The RBI has cancelled the certificate of registration of Datta Finance and Trading Pvt Ltd for violating guidelines on outsourcing core functions in digital lending. The company will no longer operate as an NBFC following irregular lending practices
By Dr K Srinivasa Rao Innovations in financial intermediation led by fintechs and virtual banks have changed the landscape of lending to retailers and small and medium entrepreneurs. Hyperactive digital lending by new-age tech entities has begun to pose a challenge to banks and regulators. Falling in line with the competitors, banks have also partially […]
