New Delhi, Aug. 21 -- When you face an urgent need for money, it is a common practice to approach a bank or an NBFC for the same. Perhaps not anymore! There are quite a few fintech apps that also provide loans to borrowers.

And most of them usually disbursepersonalloans in a very short period, sometimes 10 minutes. However, it is important for consumers to be careful and opt only for the apps that are credible and safe.

We spoke to a few experts to find out how consumers can decide which apps to choose and which not.

I.Legitimacy: First of all, you should check whether the platform is legitimate or not, which means it should be anRBI-registered bank or a regulated NBFC.

"Always ensure that the digital platform is linked to an RBI-regi...