RBI has specifically targeted, taking loans only through these apps.

 RBI Guidelines For Loan : Nowadays there are many applications in the market which provide you loan but how do we know if this application is right or wrong because money is in question. Everyone is afraid of being cheated. But now is the time to overcome this fear. because…

Now only RBI will tell you which application you should take loan with and which digital loan application is harmful for us. So that no fake digital loan application can cheat the citizens of India.

RBI System | RBI Guidelines For Loans

At present many decisions have been taken after the three day meeting of RBI. It is one of the decisions on how to wean the citizens of India from fraudulent fake digital loan applications.

Now the existing loan application in India or the new digital loan application will have to disclose all their information to the RBI.

Then this digital loan application will be verified by RBI and then RBI will include that digital loan application in its database. That is, digital loan applications which are safe for the citizens of India will be listed on the RBI website. So…

People who want to take loans with the help of applications can go to the RBI website and see the list of these loan providers who can take loans with the help of those applications.

In this way no citizen of India can be cheated by fake loan applications.

Out of 1100 apps 500 apps are fake

Currently there are around 1100 digital loan apps in India, but the point is that out of these 1100 digital loan apps, only around 600 apps are legitimate.

The remaining 500 digital loan apps are still not legitimate and many of these digital loan apps are fraudulent by claiming to provide loans at low interest rates by taking advantage of the compulsion of the borrower.

So friends, how do you feel about this step of RBI? Will the citizens of India be able to rely on digital loan apps without fear of RBI's actions? Comment your opinion and show the need. Also if any of your friends are availing loans using such digital loan apps then please share this article with them so that they can be safe from fake digital loan apps, thanks.