Strict Rules will come for Digital Lending Platforms- Shaktikanta Das

India's central bank, Reserve Bank of India (RBI) Governor Shaktikanta Das has said that there will be strict rules for digital lending platforms. Governor Shaktikanta Das said on Thursday that the central bank may soon come out with rules for the digital loan platform.

It is worth noting that there are many unauthorized apps on these platforms. Due to harassment of borrowers by some operators of digital loan apps, cases of alleged suicides have increased among them. Addressing the Iconic Week organized by the Ministry of Finance as part of Azadi Ke Amrit Mahotsav, the Ministry of Finance, Shaktikanta Das said, "'They feel that very soon they will be able to come up with a comprehensive regulatory framework  These rules will be able to meet the challenges faced with regard to lending through digital platforms."

He further said that many platforms are running without registration and they are completely illegal. Earlier on Wednesday, Das had said that if customers taking loans from these apps, face any kind of problem, then they should contact the local police.