India's central bank tightens scrutiny over digital lending apps

India's central bank tightens scrutiny over digital lending apps

FILE PHOTO: The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/File photo

The Reserve Bank of India on Wednesday issued detailed guidelines that will increase scrutiny and supervision over digital lending apps and lenders who engage with them, after several complaints of malpractice against such apps.

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