2 min read.Updated: 19 Aug 2022, 07:24 AM ISTBloomberg
The RBI wants digital loans to be less predatory and for credit risk to remain with regulated institutions.
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There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire to rein in the industry after its pandemic-era excesses.
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