RBI to provide guidelines on digital lending soon
Customers have been approached by loan collection personnel at unusual hours and using harsh language, according to RBI governor Shaktikanta Das; 'this is unacceptable.' Governor of the Reserve Bank of India (RBI) Shaktikanta Das announced on Friday that the central bank would provide guidelines and steps soon to ensure the safety of the digital lending ecosystem while also improving client protection and fostering innovation. He went on to say that as people utilize technology and digital services more, there are more instances of digital fraud and customer unhappiness. He also stated that the RBI Working Group's views on digital lending are being considered for the issue of guidelines. The RBI says a Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) was recently formed. The committee will, among other things, examine the customer service landscape's developing and evolving demands, particularly in the context of ...