In a recent development in the Indian financial sector, the Reserve Bank of India (RBI) has announced new guidelines for digital lending platforms. The RBI stated that digital lending platforms must disclose upfront the names of the banks and non-banking financial companies (NBFCs) they are partnered with. This move aims to bring transparency and protect consumers from unscrupulous lending practices. The RBI also emphasized that digital lenders must not force borrowers to provide access to their personal data on their smartphones. This directive comes after reports of harassment and data privacy breaches by some digital lending platforms. The RBI has urged borrowers to be cautious while availing loans from digital platforms and to report any instances of harassment or misuse of personal information. The new guidelines are expected to clean up the digital lending space in India and make it more secure for borrowers. This move is in line with the Indian government’s efforts to regulate the digital lending sector and protect consumers from predatory lending practices. It is crucial for digital lending platforms to comply with these guidelines to ensure the trust and confidence of borrowers. The RBI has stated that it will closely monitor the implementation of these guidelines and will take strict action against any platform found violating them. Overall, these new guidelines are a positive step towards creating a safer and more transparent digital lending ecosystem in India.