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RBI creates 6-members group for regulating digital lending frauds

RBI creates 6-members group for regulating digital lending frauds

The Reserve Bank of India (RBI) has created a 6-members group in order to control digital lending frauds. nowadays, RBI is getting the growing instances of frauds in digital lending space.

  • The¬†group will study digital lending activities of the regulated and unregulated players

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six-members of panel

Jayant Kumar DashExecutive Director,RBI
Vikram MehtaCo-founder (Monexo Fintech)
Rahul SasiCyber Security Expert
P VasudevanChief General Manager (Payment and
Settlement Systems Dept)
Manoranjan MishraChief General Manager (Regulation Dept)
Ajay Kumar ChoudharyChief General Manager-in-Charge

Roles of six-member working group

  • Will control digital lending such as online lending platform and mobile lending.
  • Evaluation of digital lending activities
  • Recognize risks acted by unregulated digital lending

FAQs:

Q.1 Who are six-members of the panel formed by RBI to control digital lending frauds?

Jayant Kumar DashExecutive Director, RBI
Vikram Mehta – Co-founder (Monexo Fintech)
Rahul Sasi – Cyber Security Expert
P Vasudevan – Chief General Manager (Payment and
Settlement Systems Dept)
Manoranjan Mishra – Chief General Manager (Regulation Dept)
Ajay Kumar Choudhary – Chief General Manager-in-Charge

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