India to prepare a 'whitelist' of digital lending apps
A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas
The Indian government is stepping up scrutiny on digital lending apps in an attempt to weed out ones which indulge in unethical lending and recovery practices, the government said in a notification on Friday.
The central bank has been asked to prepare a list of legal digital lending apps while the government will help ensure that only such apps conduct lending, it said.
