RBI Raises Concern Over Unethical Loan Recovery Practices
The Reserve Bank of India raised concerns over the growing unethical loan recovery practices, usurious interest rates and data privacy issues, on September 21. It also flagged certain material concerns regarding the mushrooming of digital lending apps. Amid the need of the hour to ensure safety following a process of whitelisting and due diligence by the regulated entities, the RBI Governor Shaktikant Das raised the concerns.
Tags: Loan Apps Recovery, Unethical Recovery, RBI, SHAKTIKANTA DAS, New Policy
Courtesy: The New Indian Express