India - Guidelines On Digital Lending.

September 13, 2022 by Balaram Adhikari

The Reserve Bank of India (RBI) issued a notification on the Guidelines for Digital Lending. As per the guidelines issued, it is reiterated by RBI that outsourcing arrangements entered by Regulated Entities (REs) with a Lending Service Provider (LSP)/ Digital Lending App (DLA) does not diminish the REs’ obligations and they shall continue to conform to the extant guidelines on outsourcing.

The REs are advised to ensure that the LSPs engaged by them and the DLAs (either of the RE or of the LSP engaged by the RE) comply with the guidelines contained in this circular. REs are given time till November 30, 2022, to put in place adequate systems and processes to ensure that ‘existing digital loans’ are in compliance with these guidelines.

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Vineet Aneja – Clasis Law,
vineet.aneja@clasislaw.com

Vineet heads Clasis Law and shares his time between the Delhi and Mumbai offices. He has extensive experience working with both Indian and foreign companies, as well as with government authorities.

Vineet’s corporate practice includes advising on mergers and acquisitions, joint ventures, private equity and investment funds on a full range of corporate clients on general corporate matters and in the areas of capital markets, project finance, regulatory and real estate.

Vineet’s skill set includes a deep transactional understanding as well as significant industry expertise across industries as diverse as manufacturing, media, medical devices, fashion, insurance, technology, telecommunications, infrastructure, hospitality, retail and financial services. Client feedback has highlighted the value his experience adds to both the legal and commercial sides of transactions.