๐๐๐ ๐๐ข๐ ๐ก๐ญ๐๐ง๐ฌ ๐๐ซ๐ข๐ฉ ๐จ๐ง ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐๐ง๐๐ข๐ง๐ — ๐๐ฌ ๐๐จ๐ฎ๐ซ ๐๐ซ๐ ๐๐ง๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐ญ?
India's digital lending sector has seen exponential growth—but so have regulatory concerns. In a move to make lending more transparent and borrower-friendly, the Reserve Bank of India (RBI) has released revised Digital Lending Guidelines applicable to NBFCs, fintech platforms, and banks.
These changes are designed to enhance consumer protection, ensure data privacy, and bring greater accountability across the digital lending ecosystem.
๐ Major Updates You Need to Know
๐ฒ 1. Compulsory Registration of Lending Apps
All Digital Lending Apps (DLAs) must now be declared and registered via RBI’s CIMS portal, ensuring traceability and regulatory oversight.
๐ 2. Transparent Loan Structures
Lenders are now required to clearly disclose all loan terms — including interest rates, fees, and repayment schedules. Hidden charges are strictly prohibited.
๐ณ 3. Bank Account-Based Transactions
Loan disbursements and repayments must happen only through bank accounts of regulated entities. Wallets or unregulated third parties can no longer be used.
๐ 4. Borrower Data Requires Consent
Customer data cannot be accessed or stored without explicit permission. Borrowers must give informed consent before any personal information is collected.
๐ซ 5. No Automatic Credit Increases
Any increase in credit limits must be approved by the borrower. Automatic enhancements are no longer permitted.
๐งพ 6. Stricter Audit Trails & LSP Governance
Lenders must maintain detailed audit trails and closely monitor their Lending Service Providers (LSPs) to ensure compliance with RBI norms.
๐ What Should You Be Doing Now?
These regulatory shifts require immediate operational updates. Here's what to prioritize:
-
๐ Review your entire digital lending framework
-
๐ง Update your mobile apps, documentation, and disclosures
-
๐ง๐ซ Train teams on new RBI compliance requirements
-
๐ Build robust systems for audits, reporting, and customer grievance redressal
Failing to comply could lead to penalties or restrictions—so don’t wait.
โ Need Expert Assistance?
We help NBFCs, fintech startups, and financial institutions align with RBI’s digital lending framework—from audit preparation and app compliance to team training and documentation.
๐ Schedule your FREE consultation today
+91 93113 47006
#NBFCAdvisor #RBI #DigitalLending #FintechCompliance #DLAGuidelines #NBFCCompliance #RBIUpdate #LendingApps #Fintech