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National Trending news

RBI New Guidelines: Big news for loan lenders and borrowers! 

RBI New Guidelines: RBI is bringing a new policy regarding Digital Lending Guidelines. All fintech companies including buy-now-and-pay-later will come under the guidelines of RBI. These guidelines will also be applicable to BNPL giants like BharatPe and UNI Capital Float, Slice, ZestMoney, Paytm. 

New Delhi: Nowadays many such apps have been developed in the country which give loan to the customers within minutes. These apps give loans in a jiffy but do their own thing while recovering. This causes problems for the customers. Sometimes they have to pay more than they need. In such a situation, there are many complaints from the customers side. RBI (Reserve Bank of India) has made tremendous preparations to solve such problems. 

To control such apps and their arbitrariness, the Reserve Bank of India (RBI) is launching a new policy regarding Digital Lending Guidelines.

RBI governor gave information

Giving this information after the meeting of the Monetary Policy Committee, RBI Governor Shaktikanta Das said that the guidelines related to digital lending will be issued within the coming two months. This will put a check on companies making arbitrary recovery by letting them take it quickly. Shaktikanta Das said that the work of examining the recommendations received on digital lending has been completed. And soon the guidelines will be issued after internal discussion on this. 

RBI guidelines will also apply to BNPL

RBI’s new policy will also be applicable to BNPL. Actually, according to RBI, only verified fintech companies should be allowed to give loans. With this, there will be no arbitrariness on the customers. Therefore, RBI wants to bring all fintech companies including buy-now-and-pay-later under this new policy.
After the introduction of this new policy of RBI, these small apps which claim to give loans and make desired recovery after giving loans, will be curbed. Not only this, these guidelines will also be applicable to BharatPe and BNPL giants like UNI, Capital Float, Slice, ZestMoney, Paytm. 

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