The Reserve Bank of India (RBI) will draw up a list of eligible loan apps that can be hosted on app stores, forming the core of a multi-pronged government strategy to rein in illegal digital lending outside regular banking channels.
Key ministries are split over the issue of whether to regulate over-the-top (OTT) players, or apps, such as WhatsApp, Telegram and Signal.
India’s exports have taken a knock with demand crashing in several developed world economies as record-high inflation and its stiff monetary antidote dent consumer sentiment.
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