The RBI wants to strike a better balance between the ability of digital lending to democratize credit and its potential to suck people into a debt trap. The typical fixed cost of originating, servicing and collecting a loan is Rs 5,000 for banks; for online platforms it’s a few hundred rupees.source https://economictimes.indiatimes.com/industry/banking/finance/banking/india-aims-to-copy-china-but-not-in-lending-by-app-craze/articleshow/93648759.cms
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