BUSINESS
How digital lending ecosystem’s triad of RBI, lenders and consumers can close ranks to tackle fraudulent apps
It is the collective responsibility of all stakeholders including regulators, banks, lending companies, apps marketplace etc to raise awareness and help people choose legitimate and valid apps to avail loans
BUSINESS
Digital Lending: It is time to save the golden goose from the wolves
Easily accessible but predatory lending apps charging usurious rates of interest need immediate attention. A public whitelist constantly updated to keep track of every digital lending app out there and notifying RBI as a nodal regulatory agency are key first steps that can help India get cracking on a scourge that threatens to damage a sector with immense growth potential
