Archive · 22 Sep 2025
RBI Cancels Datta Finance Certificate Due to Lending Practices
The Reserve Bank of India (RBI) has shut down Datta Finance and Trading because it wasn't following the rules.
The company outsourced important parts of their business, like deciding who gets loans and collecting payments, to KinCash, DoLoan, and ZestCash apps.
This is against the rules for digital lending.
The company has been told it can no longer operate as a financial institution.
RBI cancelled the Certificate of Registration of Datta Finance.
The company violated guidelines on outsourcing of financial services.
Violations included outsourcing core decision-making functions.
Service providers included KinCash, DoLoan, and ZestCash apps.
Datta Finance can no longer operate as an NBFI.
- Who
- RBI and Datta Finance and Trading Pvt Ltd
- What
- RBI cancelled the Certificate of Registration of Datta Finance
- When
- Announced on Monday, September 22
- Where
- New Delhi
- Why
- Due to irregular lending practices
Datta Finance and Trading
Reserve Bank of India
Outsourcing practices
Datta Finance and Trading
The outsourcing practices were legal.
Reserve Bank of India
The outsourcing practices violated code of conduct.
- Company
- Datta Finance and Trading Pvt Ltd
- Action
- Cancellation of Certificate of Registration (CoR)
- Reason
- Irregular lending practices
- Violations
- Code of conduct in outsourcing of financial services
- Service Providers
- KinCash app, DoLoan app, ZestCash app
- Location
- New Delhi
