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BankingNABARD / RBI

RBI Whitelist of Digital Lending Apps and Borrower Safety

10 July 20251 min read
BANKING & FINANCERBI Whitelist ofDigital LendingApps andBorrower Safety10 July 2025safalsetu.com

Why in the news

To protect consumers, RBI put out a public whitelist of authorised digital lending apps.

Key facts

  • Registered DLAs follow Digital Lending Directions, the Fair Practice Code and disclosures such as the KFS.
  • Hidden charges: interest of 10-20% per month and heavy penalties.
  • Data misuse: access to contacts and photos, shaming of family and friends, morphed images.
  • Abusive recovery by agents; no proper loan documents.

Exam angle

  • Whitelist publisher: RBI; mandatory disclosure: KFS.

Test yourself

1. What did RBI publish on its website to help borrowers spot fraudulent loan apps?

RBI published a list of authorised digital lending apps.

2. Which disclosure is mentioned as mandatory for RBI-registered digital lending apps?

The notes list mandatory disclosures such as KFS and loan agreements.

3. What monthly interest range is cited for fraudulent loan apps in these notes?

The notes mention exorbitant interest of 10-20% per month.

This topic is part of Daily Current Affairs 10 July 2025 (15 topics).

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