RBI eyes interest rate relief for borrowers with co-lending rules

Message conveyed at meet between RBI officials & fintechs

The Reserve Bank of India (RBI) expects the final interest rate charged to borrowers by digital lenders to fall once the new draft guidelines on co-lending come into effect, sources aware of the discussions said.

 

Top officials from RBI’s Department of Regulation met representatives from the fintech industry on Tuesday. Representatives included executives from the Fintech Association for Consumer Empowerment (FACE), Unified Fintech Forum (UFF, formerly DLAI), and the Fintech Convergence Council (FCC). 

 

“There was a discussion around whether the draft co-lending guidelines had created any friction. We also discussed how each model would operate — CLM 2 (co-lending