Fintechs to seek clarity on RBI lending rules

The RBI has, in the digital lending rules, addressed malpractices by illegal Chinese apps, putting a lid on measures such as data scraping from phones of consumers, emphatic consent for data collected for lending, upfront disclosure on all costs involved and a cooling-off period for borrowers to exit digital loans.

from Tech-Economic Times https://ift.tt/0VZj4sa