Digital lending has transformed how millions of Indians access credit, with personal loans now accounting for 30.7 per cent of total bank credit and digital lenders sanctioning most personal loans by volume. However, concerns over high processing fees, short repayment periods, repeat borrowing and fraudulent loan apps have also grown. The Reserve Bank of India has introduced new digital lending rules while the government has stepped up action against illegal apps. This report explains how digital lending works, why household debt is rising, the safeguards now in place, and what borrowers should check before taking a loan. Is instant credit creating new financial risks? Hem Saroya tells you more.
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Digital Lending | RBI Rules | Personal Loan | Loan Apps | Fintech India | Instant Loan | Household Debt | RBI Digital Lending | Financial News | Firstpost | Vantage | Hem Saroya
#digitallending #rbi #personalloan #loanapps #india #fintech #financialliteracy #firstpost #vantageonfirstpost #hemsaroya
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