Education

RBI received complaints against 1,509 digital lending apps

  • The RBI has obtained complaints in opposition to 1,019 unregistered or unregulated digital mortgage purposes and 490 registered NBFCs which are engaged in digital lending, minister of state for finance Anurag Singh Thakur stated in a written reply to the Lok Sabha on Monday.

PTI, New Delhi

PUBLISHED ON FEB 08, 2021 09:36 PM IST

The Reserve Financial institution of India (RBI) intimated that it has obtained complaints in opposition to 1,509 digital lending purposes, minister of state for finance Anurag Singh Thakur stated in a written reply to the Lok Sabha on Monday.

The RBI has obtained complaints in opposition to 1,019 unregistered or unregulated digital mortgage purposes and 490 registered NBFCs which are engaged in digital lending, he stated.

The central financial institution in December cautioned most of the people in opposition to unauthorised digital lending platforms/apps with an enchantment to confirm the antecedents of the service supplier, the minister added.

A working group (WG) has been set as much as research all facets of digital lending actions within the regulated monetary sector in addition to by unregulated gamers in order that an acceptable regulatory strategy will be put in place, he stated.

The WG was arrange amid rising incidents of harassment referring to on-line lending.

In reply to a different query, Thakur stated 41.75 crore accounts have been opened below Pradhan Mantri Jan Dhan Yojana (PMJDY) as on January 27, 2021.

PMJDY has been profitable in growing banking penetration and to advertise monetary inclusion throughout the nation, he stated.

“Roughly 30.69 crore RuPay playing cards with an inbuilt unintended insurance coverage of 1 lakh ( 2 lakh for accounts opened after 28.8.2018) protection have been offered to PMJDY account holders. About 80 per cent of complete operative accounts below PMJDY have been seeded with Aadhaar and eligible accounts are getting Direct Profit Switch (DBT) of their accounts,” the minister added.

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