RBI warns the public about suspicious digital loan applications

The Reserve Bank of India (RBI) on Wednesday warned consumers against questionable digital money lenders that promise loans in seconds at exorbitant interest rates and then use their powers to recover installments. The Central Bank in a statement said that there have been reports of individuals / small businesses falling …

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RBI warns against unauthorized digital lending platforms and mobile apps

The Reserve Bank of India (RBI) on Wednesday warned individuals and small businesses not to fall victim to a growing number of unauthorized digital lending platforms and mobile apps with promises of borrowing. quickly and without complications. These platforms charge excessive interest rates and additional hidden fees, adopt unacceptable and …

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