Digital Lending Apps
- All
- News
- Videos
-
Zerodha's Nithin Kamath Warns Against "Shady" Loan Apps, Shares Key Red Flags
Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.
-
Chase India Proposes Setting Up Self-Regulatory Body for Digital Lending Industry Amid Crackdown on Loan Apps
Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry.
-
PhonePe Raises $100 Million From General Atlantic, Investors During Ongoing Fundraise
PhonePe on Wednesday said it had raised an additional $100 million ((roughly Rs. 820 crores)) from General Atlantic and other investors as part of its ongoing $1 billion (roughly Rs. 82,063 crores) fundraise to expand into the lucrative lending space. General Atlantic had invested $350 million (roughly Rs. 287 crores) in the fintech during the same...
-
PhonePe Raises Further $200 Million From Walmart at $12 Billion Valuation, Plans to Build New Businesses
Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart at a pre-money valuation of $12 billion.
-
Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
-
India Aims to Copy China, But Not in Lending-by-App Craze
There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire...
-
Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
-
RBI’s Digital Lending Norms Will Help Sector Scale Up, Become More Responsible, Industry Says
The RBI’s digital lending norms, introduced on Wednesday, have been welcomed by the industry. The new regulations will help the sector scale up and become more responsible. According to the new guidelines, all loan disbursals and repayments are required to be executed only between the bank accounts of the borrower and regulated entities like bank...
-
RBI Issues Stringent Norms For Digital Lending Services Aimed at Curbing Malpractice
The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...
-
Taking Action Against Dubious Digital Loan Apps, Indians Who Help Set Them Up, Finance Minister Says
Dubious digital loan apps will face action from the government, including those originating outside the country, along with Indians who help set them up, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was responding to a supplementary question in the Rajya Sabha on reports of dubious digital loan apps backed by Chinese entities w...
-
RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
-
Your Data for Cash: Indian Lending Apps Force Tough Choice
Digital lending platforms in India have come under greater scrutiny recently for their methods, including the collection and alleged misuse of borrowers' data, underlining the risks to driving financial inclusion with newer technologies.
-
Reserve Bank of India Forms Group to Evaluate Digital Lending
The Reserve Bank of India formed a working group to look at digital lending in the country, including lending through online platforms and mobile applications, it said in a statement.
-
PayU Buys PaySense for $185 Million to Merge It With LazyPay
PayU on Friday announced it will merge the business operations of "buy now pay later" platform LazyPay and PaySense to build a full-stack digital lending platform in India.
-
Samsung Finance+ Digital Lending Platform Launched in India
Samsung has partnered with New Delhi-headquartered DMI Finance to launch Samsung Finance+ in the country.
-
Zerodha's Nithin Kamath Warns Against "Shady" Loan Apps, Shares Key Red Flags
Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.
-
Chase India Proposes Setting Up Self-Regulatory Body for Digital Lending Industry Amid Crackdown on Loan Apps
Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry.
-
PhonePe Raises $100 Million From General Atlantic, Investors During Ongoing Fundraise
PhonePe on Wednesday said it had raised an additional $100 million ((roughly Rs. 820 crores)) from General Atlantic and other investors as part of its ongoing $1 billion (roughly Rs. 82,063 crores) fundraise to expand into the lucrative lending space. General Atlantic had invested $350 million (roughly Rs. 287 crores) in the fintech during the same...
-
PhonePe Raises Further $200 Million From Walmart at $12 Billion Valuation, Plans to Build New Businesses
Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart at a pre-money valuation of $12 billion.
-
Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
-
India Aims to Copy China, But Not in Lending-by-App Craze
There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire...
-
Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
-
RBI’s Digital Lending Norms Will Help Sector Scale Up, Become More Responsible, Industry Says
The RBI’s digital lending norms, introduced on Wednesday, have been welcomed by the industry. The new regulations will help the sector scale up and become more responsible. According to the new guidelines, all loan disbursals and repayments are required to be executed only between the bank accounts of the borrower and regulated entities like bank...
-
RBI Issues Stringent Norms For Digital Lending Services Aimed at Curbing Malpractice
The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...
-
Taking Action Against Dubious Digital Loan Apps, Indians Who Help Set Them Up, Finance Minister Says
Dubious digital loan apps will face action from the government, including those originating outside the country, along with Indians who help set them up, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was responding to a supplementary question in the Rajya Sabha on reports of dubious digital loan apps backed by Chinese entities w...
-
RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
-
Your Data for Cash: Indian Lending Apps Force Tough Choice
Digital lending platforms in India have come under greater scrutiny recently for their methods, including the collection and alleged misuse of borrowers' data, underlining the risks to driving financial inclusion with newer technologies.
-
Reserve Bank of India Forms Group to Evaluate Digital Lending
The Reserve Bank of India formed a working group to look at digital lending in the country, including lending through online platforms and mobile applications, it said in a statement.
-
PayU Buys PaySense for $185 Million to Merge It With LazyPay
PayU on Friday announced it will merge the business operations of "buy now pay later" platform LazyPay and PaySense to build a full-stack digital lending platform in India.
-
Samsung Finance+ Digital Lending Platform Launched in India
Samsung has partnered with New Delhi-headquartered DMI Finance to launch Samsung Finance+ in the country.
