RBI Mandates Digital Lending App Reporting by 2025
| Aspect | Details |
|---|---|
| Event | RBI issues Digital Lending Directions, 2025 |
| Key Directive | Regulated Entities (REs) must report Digital Lending Apps (DLAs) on CIMS portal |
| CIMS Portal Launch | May 13, 2025 |
| First Reporting Deadline | June 15, 2025 |
| Public Directory Release | July 1, 2025 (Borrowers can verify legitimacy of DLAs) |
| Transparency in Loan Aggregation | LSPs must digitally display all loan offers, including matched/unmatched lenders |
| Stricter Due Diligence | REs must assess LSPs for technical capability, data security, and privacy compliance |
| Objectives | Prevent misuse of borrower data, address hidden charges, aggressive recovery, and fake apps |
| Background | Digital lending grew post-2020; RBI issued initial guidelines in September 2022 |
| Significance | Ensures safe lending practices, curbs unregulated operators, promotes transparency |