RBI forms six-member working group to regulate digital lending frauds
The Reserve Bank of India (RBI) has set up a working
group to study digital lending activities of the regulated
and unregulated players, due to the growing instances of
frauds in digital lending space. The group will suggest
steps to regulate digital lending including online lending
platform and mobile lending. The group will evaluate
digital lending activities and assess the penetration and
standards of outsourced digital lending activities in RBI
regulated entities.
The six-member panel comprises of following four RBI
internal and two external members:
1. Jayant Kumar Dash, Executive Director, RBI
(Chairman)
2. Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision (Member)
3. P Vasudevan, Chief General Manager, Department of
Payment and Settlement Systems, RBI (Member)
4. Manoranjan Mishra, Chief General Manager,
Department of Regulation (Member Secretary)
5. Vikram Mehta, Co-founder, Monexo Fintech (External
Member)
6. Rahul Sasi, Cyber Security Expert & Founder of
CloudSEK (External Member)