RBI releases first set of norms for digital lending

  • All loan disbursals and repayments have to be executed only between the bank accounts of the borrower and the regulated entity without any pass-through or pool account of the lending service provider (LSP) or any third party, the regulator said.
  • Any fees or charges payable to LSPs in the credit intermediation process shall be paid directly by the regulated entity and not by the borrower

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