RBI types six-member working group to control digital lending frauds

The Reserve Bank of India (RBI) has arrange a working group to check digital lending actions of the regulated and unregulated gamers, as a result of rising cases of frauds in digital lending house. The group will counsel steps to control digital lending together with on-line lending platform and cellular lending. The group will consider digital lending actions and assess the penetration and requirements of outsourced digital lending actions in RBI regulated entities.

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The six-member panel contains of following 4 RBI inside and two exterior members:

  1. Jayant Kumar Dash, Executive Director, RBI (Chairman)
  2. Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision (Member)
  3. P Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, RBI (Member)
  4. Manoranjan Mishra, Chief General Manager, Department of Regulation (Member Secretary)
  5. Vikram Mehta, Co-founder, Monexo Fintech (External Member)
  6. Rahul Sasi, Cyber Security Expert & Founder of CloudSEK (External Member)

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