New Delhi, March 18 -- The government and the Reserve Bank of India (RBI) have strengthened measures to curb fraudulent loan apps and enhance consumer protection in the digital lending ecosystem, Minister of State for Finance (MoS) Pankaj Chaudhary said in a written reply in the Rajya Sabha.

The RBI had constituted a Working Group on Digital Lending covering online platforms and mobile applications, based on whose recommendations regulatory guidelines have been issued to streamline digital lending practices and ensure a safe and transparent ecosystem.

All regulated entities are required to comply with these norms, with adherence monitored through supervisory assessments and enforcement action initiated in cases of non-compliance.

To ta...