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”Members of public are hereby cautioned not to fall prey to such unscrupulous activities and verify the antecedents of the company/firm offering loans online or through mobile apps,” the RBI said.
The central bank also asked customers to never share copies of KYC documents with unidentified persons or unauthorised apps and ”report such Apps/Bank Account information associated with the Apps to concerned law enforcement agencies.”
Besides, the Sachet portal (https:sachet.rbi.org.in) can also be used to file an online complaint.
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The Reserve Bank has also mandated that digital lending platforms which are used on behalf of banks and NBFCs should disclose name of the bank/NBFC upfront to the customers. The names and addresses of the registered NBFCs can be accessed on the RBI website.