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The Reserve Bank of India (RBI) has released a Draft Circular on “Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders” for public feedback. This follows the announcement in RBI’s Statement on Developmental and Regulatory Policies dated December 8, 2023, regarding a regulatory framework for loan product aggregation by Lending Service Providers (LSPs).
The draft circular aims to enhance transparency in the digital lending ecosystem, particularly in how loan products from multiple lenders are presented and aggregated for customers.
Stakeholders and members of the public can submit their comments via email with the subject line “Comments on Draft Circular on Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders” by May 31, 2024.
[RBI]