Digital Lending

Your credit is easier to steal than your money: How online lending works

A simple 'Buy now, pay later' click can trigger a full loan without consent. Weak verification, no alerts, and instant disbursals are fuelling identity fraud in India's digital lending ecosystem

ULI 'turning point' in providing affordable credit: RBI deputy governor

Upcoming digital platform has the potential to achieve transformative impact of UPI, says Swaminathan J

A fine balance for fintech as investors put compliance ahead of valuation

Industry that was touted to overtake legacy banks and financial institutions gets wake-up call

Avoiding fraudulent loan apps: RBI listing, ratings & reviews key to safety

Loans from registered NBFCs or banks come with a key fact statement (KFS), a sanction letter, and a loan agreement detailing all costs

DFS Secretary urges fast-tracking of government data integration with ULI

ULI, seen as the UPI of credit, gets a push from the DFS and RBI, which have asked ministries and states to onboard datasets for seamless and inclusive credit delivery

More Than Money PayRupik is Lending Hope

In a world where credit equals opportunity, PayRupik - backed by Sayyam Investments is empowering 5 million+ Indians with swift, inclusive loans and life-changing community support.

RBI mandates reporting of digital lending apps via CIMS portal from May 13

RBI directs regulated entities to upload digital lending app data on the CIMS portal by June 15 to enhance transparency and streamline digital lending regulations

Namma Yatri drivers are also early pilots for unified lending interface

The initial focus of the Unified Lending Interface is to provide small-ticket loans and improve collection efficiency

Soon, unregulated loan apps may be banned with Rs 1 cr penalty, 10-yr jail

A definition of "unregulated lending activities" to cover loans offered outside the scope of existing regulations, including digital lending platforms

ULI will be for lending what UPI is for payments: RBI Dy Guv at BFSI Summit

BS BFSI Summit: RBI is actively working to link UPI with other countries, aiming for global acceptance that would allow Indians abroad to make payments using UPI, said RBI Deputy Governor

Self-regulatory organisation for fintechs set to change membership profile

FACE's membership may expand to 180 from 80 as it diversifies and becomes more inclusive

India needs to bridge the digital divide in villages for development

Access to banking, investment, credit and commerce has to be simplified in villages. A network of technology and local trust will help financial inclusion

Lending takes turn for U: How new credit platform can be a game changer

Moving pieces need to be synchronised for Unified Lending Interface to work

Ease of lending: How Unified Lending Interface will improve credit access

Seamless delivery of credit and a quicker turnaround time without requiring extensive documentation will benefit both borrowers and lenders

Freo eyes 25-30% growth in gross revenue in FY25; focus on profitability

Digital banking platform Freo is eyeing 25-30 per cent growth in its gross revenue for the current fiscal, co-founder Anuj Kacker said, adding that the company remains sharply focused on profitability. Kacker told PTI that RBI's recent announcement on the creation of a public repository of Digital Lending Apps (DLA) linked to regulated entities is a good move that would improve confidence around the digital lending ecosystem. He said that Freo's business is growing across multiple verticals, and the company remains steadfast in its resolve to maintain profitability. "This year, we are expecting a 25-30 per cent growth in gross revenue, and in the net revenue by 50-60 per cent as our share in gross revenue will increase," he said. Freo clocked gross revenue of Rs 350 crore for FY24. The company has been profitable since December 2023. "We have been profitable in the June quarter of the current financial year, and for the September quarter also we expect to be profitable," he said o

RBI to set up public repository of digital lending apps to help customers

It will help people find out of a digital lender has a relationship with a bank or NBFC

RBI to set up repository of lending apps to check unauthorised players

The Reserve Bank on Thursday proposed to create a public repository of digital lending apps in a bid to address the problems arising from mushrooming unauthorised players in the segment. In another significant move, the central bank proposed to introduce a facility of "Delegated Payments" in UPI to enable an individual to allow another individual to make UPI transactions. In a post-monetary policy review address, RBI Governor Shaktikanta Das said the central bank has taken several measures for the orderly development of the digital lending ecosystem in India. In a bid to address the problems arising from unauthorised digital lending apps (DLAs), he said the RBI proposes to create a public repository of DLAs deployed by its regulated entities. "The regulated entities (REs) will report and update information about their DLAs in this repository. This measure will help the consumers to identify the unauthorised lending apps," Das said. On introduction of 'Delegated Payments' through U

Lenders expect spurt in digital lending, deposit mobilisation in 5 years

44% of them expect to collect more than 50% of deposits through online modes

DLAI adds former RBI execs to advisory council, aims for SRO-FT recognition

An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country

Thailand to roll out disputed $13.8 bn plan in digital money to citizens

Thailand's prime minister said on Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April the widely criticised ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about USD 275) to 50 million citizens in digital money to spend at local businesses. Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin on August 1 and that he has given instructions to ensure the smooth implementation of the program. The Digital Wallet was a major campaign promise of the ruling Srettha's Pheu Thai party ahead of last year's general election. The government says that this scheme will cause an economic tornado, and Srettha has said the stimulus and subsequent consumption are expected to boost gross domestic product growth by 1.2 to 1.6 percentage points. However,