FAQs on Digital Lending Guidelines

Brief Overview:

The RBI on 14th February 2023 released Frequently Asked Questions (“FAQs”) on digital lending guidelines which were issued vide Circular DOR.CRE.REC.66/21.07.001/2022-23 dated 2nd September 2022.

Technical Details:

The FAQs provide clarity on various queries of stakeholders inter alia broadly capturing the below:

1)    Clarity on the scope of digital lending, and lending service provider (“LSP”);

2)    Disclosure and calculation of Annual Percentage Rate (“ARR”);

3)    Governance of EMI programmes on Credit Card;

4)    Extent of services provided by Payment Aggregators;

5)    Refund of processing fee in case of cooling off period; and

6)    Extent of exemption from direct disbursal to the bank account of the borrower, under the co-lending transactions.

For further details, please see:

Reserve Bank of India – Frequently Asked Questions (rbi.org.in)

For any queries / clarifications, please feel free to ping us and we will be happy to chat: 

 Mr. Ankit Sinha (ankit.sinha@jclex.com)
Mr. Saurabh Sharma (
 Ms. Rupul Jhanjee (rupul.jhanjee@jclex.com)

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