CURRENT AFFAIRS

Detailed explanation-1: -Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision (Member)

Detailed explanation-2: -The Reserve Bank of India had constituted a Working Group (WG) on digital lending including lending through online platforms and mobile apps on January 13, 2021, with Shri Jayant Kumar Dash, Executive Director, RBI as the Chairman.

Detailed explanation-3: -Who is the head of RBI’s working group on regulation of Digital lending space? Notes: The Reserve Bank of India has formed a 6-member working group headed by its Executive Director Jayant Kumar Dash, on regulation of digital lending space.

Detailed explanation-4: -RBI had set a WG on Digital Lending including Lending through Online Platforms and Mobile Apps, with Jayant Kumar Dash, Executive Director, RBI, as the Chairman to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players.

Detailed explanation-5: -The Reserve Bank’s regulatory framework is focused on the digital lending ecosystem of RBI’s Regulated Entities (REs) and Lending Service Providers (LSPs) engaged by them to extend various permissible credit facilitation services.