RBI Bets On Digital India Trust Agency (DIGITA) To Verify Digital Lending Apps

The Reserve Bank of India (RBI) is set to establish a public register of approved lending apps to combat the rise of illegal lending activities in the digital space. This initiative, aimed at enhancing transparency and accountability, will be facilitated by the formation of the Digital India Trust Agency (DIGITA), tasked with verifying and maintaining a roster of verified lending apps. Apps not verified by DIGITA will face enforcement actions, addressing concerns about fraudulent practices in the digital lending sector.