RBI to set up repository of lending apps to check unauthorised players

The Reserve Bank on Thursday proposed to create a public repository of digital lending apps in a bid to address the problems arising from mushrooming unauthorised players in the segment.

In another significant move, the central bank proposed to introduce a facility of “Delegated Payments” in UPI to enable an individual to allow another individual to make UPI transactions.

In a post-monetary policy review address, RBI Governor Shaktikanta Das said the central bank has taken several measures for the orderly development of the digital lending ecosystem in India.