Tag: Digital lending

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 15 February 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

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Digital lending: No clarity say bank and fintech

GS Paper 3 Syllabus: Indian Economy and related issues   Source: IE  Direction: The article discusses the current digital lending ecosystem, the need to regulate it, RBI guidelines and confusion regarding it.  Context: Two months after the RBI issued guidelines on digital lending, Banks, non-banking financial companies (NBFCs) and fintech players are still awaiting clarity …

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Digital lending and issues associated:

GS Paper 3: Topics Covered: Cyber security related issues.   Context: Last week, the Reserve Bank cancelled the Certificate of Registration (CoR) issued to P C Financial Services Pvt Ltd, New Delhi, which was primarily engaged in mobile app-based lending operations through an app called ‘Cashbean’.   Why was the PC Financial licence cancelled? The …

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RBI panel moots law to regulate digital lending:

GS Paper 3: Topics Covered: Cyber security related issues.   Context: Lending through digital mode relative to physical mode in India is still at a nascent stage in case of banks (Rs 1.12 lakh crore via digital mode vis-à-vis Rs 53.08 lakh crore via physical mode). However, the overall volume of disbursement through digital mode …

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RBI panel moots law to regulate digital lending:

GS Paper 3: Topics Covered: Cyber security related issues.   Context: A Reserve Bank of India (RBI) Working Group (WG) on digital lending, including lending through online platforms and mobile apps has submitted its recommendations.   Key recommendations: A separate legislation should be enacted to oversee such lending. Setup a nodal agency to vet the Digital …

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