Archive · 2 Jun 2025
RBI Mandates Reporting of Digital Lending Apps Starting May 13
The Reserve Bank of India (RBI) is making digital lending apps more trustworthy.
They're making new rules to help.
Starting May 13, all lending companies have to tell the RBI which apps they use.
The RBI will then make a list of these apps available to the public so people can check if the app is real.
This helps prevent hidden fees and scams.
The goal is to make sure borrowing money online is safer and fairer for everyone.
RBI mandates all regulated entities (REs) to report details of their digital lending apps (DLAs).
REs must upload DLA details on the RBI’s CIMS portal, starting May 13.
RBI will publish a public directory of DLAs by July 1.
The directory will help users verify if an app is linked to a legitimate lender.
LSPs must provide a digital view of all loan offers if they work with multiple REs.
- Who
- The Reserve Bank of India (RBI) and regulated entities (REs) like banks.
- What
- RBI is mandating reporting of digital lending apps to increase transparency and accountability.
- When
- Reporting starts May 13, with initial data due by June 15.
- Where
- The RBI's Centralised Information Management System (CIMS) portal and public website.
- Why
- To bring more transparency and protect borrowers from unfair practices.
- RBI Directive Name
- Digital Lending Directions, 2025
- Reporting Start Date
- May 13
- Initial Data Submission Deadline
- June 15
- Public Directory Launch
- July 1
- Directory Responsibility
- RBI will publish but not verify data.