India to prepare a list of legal digital lending apps to weed out "unethical practices"

India to prepare a list of legal digital lending apps to weed out "unethical practices"

FILE PHOTO: A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, India July 8, 2019. REUTERS/Anushree Fadnavis/File Photo

The Indian government is stepping up scrutiny of digital lending apps in an attempt to weed out ones which conduct unethical lending and recovery practices, the government said in a notification on Friday.

The central bank has been asked to prepare a list of legal digital lending apps while the government will help ensure that only such apps conduct lending, it said.

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