Reserve Bank of India cautions against unauthorised digital lending platforms, mobile apps

Legitimate public lending activities can be undertaken by banks, non-banking financial companies (NBFCs) registered with the RBI and other entities who are regulated by state governments under statutory provisions.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/reserve-bank-of-india-cautions-against-unauthorised-digital-lending-platforms-mobile-apps/articleshow/79924079.cms