Most of the digital lending apps are not registered with the RBI: Police will take necessary action on receipt of complaint says RBI governor

Loans and advances

While speaking at the Iconic Week celebration as part of the ‘Azadi Ka Amrit Mahotsav’ to mark the 75th anniversary of Independence, organised by the Central Board of Indirect Taxes and Customs (CBIC), today RBI Governor Shaktikanta Das said that most of the digital lending apps are not registered with the central bank and operate…

RBI enhances Additional Factor of Authentication (AFA) limit up to Rs.15000 for Recurring e-Payments  

Information Technology

In the statement of developmental and Regulatory policies dated June 8, 2022, the Reserve Bank of India stated that the auto-transactions up to Rs 15,000 no longer require customers to authenticate such payments manually with a One Time Password (OTP). This is after the regulator received requests from several stakeholders to increase the limit under…