Will RBI’s proposed repository of digital lending apps curb the practice of online frauds?

Reserve Bank of India (RBI) Governor Shaktikanta Das announced Thursday that the central bank will create a public repository of digital lending apps (DLAs) deployed by regulated entities, i.e., banks and other financial institutions. This means any digital lending app deployed by a bank or non-banking financial corporation (NBFC) must be part of the repository. “To address the problems arising from unauthorised digital lending apps (DLAs), the Reserve Bank proposes to create a public repository of DLAs deployed by its regulated entities,” said Shaktikanta Das while announcing the monetary policy report.