Government of India has made a reference in para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022.
Further, Regulated Entities (REs) are advised to ensure that the Lending Service Provider (LSP)/ Digital Lending App (DLA) engaged by them comply with the guidelines contained in this circular and are attached as Annex I and shall be applicable to the ‘existing customers availing fresh loans’ and to ‘new customers getting onboarded’, from the date of this
circular.
This Circular is applicable to All Commercial Banks, Primary (Urban) Co-operative Banks, State Cooperative Banks, District Central Co-operative Banks; and Non-Banking Financial Companies (including Housing Finance Companies)
Link: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12382&Mode=0
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