RBI plans to create DIGITA for verifying digital lending apps and combating fraudulent apps.
The Reserve Bank of India (RBI) plans to establish the Digital India Trust Agency (DIGITA) to combat fraudulent digital lending apps, address growing cyber fraud, and increase transparency in the sector. DIGITA will verify lending apps and maintain a public register of verified ones, with unverified apps considered unauthorized. The RBI has shared a list of 442 digital lending apps with the IT Ministry and Google has removed over 2,200 apps from its app store.
March 31, 2024
13 Articles