Read How Many Illegal Lending Apps An RBI Panel Found, Here

RBI Governor Shaktikanta Das had said last week that most of the lending apps are unregistered

Reserve Bank of India (RBI) Governor Shaktikanta Das last week said that a report on digital lending apps is in an advanced stage of examination.

The report is being prepared in the wake of thousands of complaints received by RBI and law enforcement agencies against mostly unregistered lending platforms harassing people over non-payment or delay in disbursement of loans taken from them.

When the RBI Governor was asked about action being taken against such entities, Mr Das had said that most of these lending apps are unregistered and therefore if people have complaints related to such entities, then they should lodge police complaints.

However if RBI receives complaints against lending platforms, which are registered with it, then the central bank will take action, the Governor had said.