Government and RBI Strengthen Measures Against Fraudulent Digital Lending Apps

The Government of India and the Reserve Bank of India (RBI) have intensified efforts to combat fraudulent digital lending platforms. They have introduced regulatory guidelines for digital loans, including mobile app lending, to enhance customer protection. A key initiative is the launch of a 'Digital Lending Apps' directory on the RBI website, enabling users to verify authorized apps. The Ministry of Electronics and Information Technology also blocks unauthorized apps, while internet intermediaries are urged to enforce stricter controls against fraudulent platforms.