• TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
Wednesday, July 2, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

RBI cautions public against unauthorised digital lending platforms, mobile apps

Press Trust of india by Press Trust of india
December 24, 2020
in BUSINESS
0
About 84,545 bank fraud cases reported during 2019-20: RBI in RTI reply

Mumbai:  The Reserve Bank on Wednesday cautioned the public not to fall prey to the growing number of unauthorised digital lending platforms and mobile apps.

In a release, the RBI noted that there have been reports about individuals/small businesses falling prey to such unauthorised platforms and apps which promise quick and hassle-free loans.

Related posts

June 6 is a special day for entire J&K: PM

GST landmark reform that reshaped India’s economic landscape: PM Modi

July 1, 2025

Cabinet approves Rs 1.07 lakh cr Employment Linked Incentive scheme to create 3.5 cr jobs in 2 years

July 1, 2025

Reports also refer to excessive rates of interest and additional hidden charges being demanded from borrowers; adoption of unacceptable and high-handed recovery methods; and misuse of agreements to access data on the mobile phones of the borrowers, it added.

“Members of public are hereby cautioned not to fall prey to such unscrupulous activities and verify the antecedents of the company/ firm offering loans online or through mobile apps,” the RBI said.

The central bank also asked customers to never share copies of KYC documents with unidentified persons or unauthorised apps and “report such Apps/Bank Account information associated with the Apps to concerned law enforcement agencies.”

Besides, the Sachet portal (https:achet.rbi.org.in) can also be used to file an online complaint.

Legitimate public lending activities can be undertaken by banks and non-banking financial companies (NBFCs) registered with RBI and other entities who are regulated by the state governments under statutory provisions.

The Reserve Bank has also mandated that digital lending platforms which are used on behalf of banks and NBFCs should disclose name of the bank/NBFC upfront to the customers.

The names and addresses of the registered NBFCs can be accessed on the RBI website.

Previous Post

Modi govt committed to farmers’ welfare, hope protesting farmers soon withdraw stir: Rajnath

Next Post

Rauf Tramboo elected President of IHAJK

Next Post
Rauf Tramboo elected President of IHAJK

Rauf Tramboo elected President of IHAJK

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: [email protected]

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.