Reserve Bank of India (RBI) working group’s recommendations will help create a safer and trustworthy ecosystem for both customers and lenders and further boost digital lending, said industry executives and experts. They will help curb unfair practices and ensure responsible business execution.

       Gaurav Chopra, founder and chief executive officer (CEO), IndiaLends, said the need to provide key fact statements, in a standardised format, including the annual percentage rate, will give better information to borrowers about the high percentage rate. In the past year, there has ...