India, Dec. 8 -- The Government of India has issued a release:
The Government has been constantly engaging with the Reserve Bank of India (RBI) and other concerned Regulators/stakeholders to curb the operations of unauthorized digital loan apps in the country. For public information, RBI has operationalized a directory 'Digital Lending Apps (DLAs)' on its website with effect from 01.07.2025, consisting of all DLAs deployed by Regulated Entities (REs) of RBI. The directory aims to aid the customers in verifying the claim of a DLA's association with a RE.
In the case of unauthorized digital loan apps being identified, Ministry of Electronics and Information Technology (MeitY) is empowered to issue directions for blocking of information for public access under Section 69A of Information Technology (IT) Act, 2000 after following the due process as provided in the Information Technology (Procedure and Safeguards for Blocking for Access of Information by Public) Rules, 2009.
Further, the Government and RBI have been taking up various initiatives from time to time to protect citizens from exploitation by unauthorized loan apps. These inter-alia, includes:
This information was given by the Union Minister of Finance Smt Nirmala Sitharaman in a reply to a question in Lok Sabha today.
Disclaimer: Curated by HT Syndication.
