Bhubaneswar, March 18 -- To curb the growing threat of fraudulent loan applications, the Government of India and the Reserve Bank of India (RBI) have introduced a series of strengthened measures aimed at safeguarding consumers in the digital lending space.

The RBI had earlier set up a Working Group to examine digital lending practices, including loans offered through online platforms and mobile applications. Based on the group's recommendations, the central bank rolled out comprehensive regulatory guidelines. These guidelines are designed to reinforce the digital lending framework, ensure transparency, and improve customer protection while making the ecosystem more secure.

All regulated entities (REs) are mandated to strictly follow the...