- It has been observed that there is an increase in a spate of alleged suicides abetted by harassment by agents or officials of lending apps, RBI has cleared that many e-lending apps are not registered with the central bank and operate by themselves.
- If any complaints come from the unregistered e-lending app the central bank directs customers of such to approach the local police, which will conduct an investigation and take necessary action on the issue.
- Apart from that to provide the proper clarity RBI has listed the apps that are registered with it.
- Besides RBI had set up a Working Group on Digital Lending in February 2021 and the group released a comprehensive report suggesting regulating the space in November 2021.
- RBI also cautioned customers against falling for fraud by clicking on links in SMSes promising quick loans.
Question:
Q.1 RBI has set up a digital lending working group to come up with a regulation for digital lending apps in which of the following year?a. 2022
b. 2021
c. 2020
d. 2018
