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Podcast: One Thing Today in Tech
Episode: India’s fintech startups welcome RBI’s ‘customer-centric’ rules on digital lending
Description: India’s fintech startups, yesterday, welcomed the comprehensive rules on digital lending released by the Reserve Bank. The rules provide clarity that only regulated entities can offer loans and stipulate that a consumer must be told upfront what the total cost of a digitally sourced loan will be. Explicit consent must also be sought to collect data, with the option to delete it.
Notes:
India’s fintech startups that had been in a bit of a quandary after the Reserve Bank of India’s diktat on prepaid instruments and loans earlier this year, yesterday, welcomed the co...