India, July 20 -- The Government of India has issued a release:
The Government has been constantly engaging with the financial sector regulators and other concerned stakeholders to review the issues related to fintech ecosystem including digital lending platforms and payment aggregators in the country.
Based on such review assessment, various regulatory and supervisory interventions have been taken from time to time which, inter alia, includes the following:
In addition to the above, for safeguarding the interests of consumers and facilitate citizens to report cyber incidents, including illegal loan apps, the Ministry of Home Affairs (MHA) has launched the National Cybercrime Reporting Portal (www.cybercrime.gov.in) and a National Cybercrime Helpline number "1930". The banks through the public facing platform 'SACHET' portal and the State Level Coordination Committee (SLCC) facilitate the citizens for lodging of any complaints against specific entity related to deposit/ collection of money illegally. RBI and Banks have been taking up awareness campaigns through short SMS, radio campaign, publicity on prevention of 'cyber-crime'. Further, RBI has been conducting electronic-banking awareness and training (eBAAT) programmes which focuses on awareness about frauds and risk mitigation.
This information was given by the Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today.
Disclaimer: Curated by HT Syndication.
