CURRENT AFFAIRS

Detailed explanation-1: -Q. 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-2: -Jayant Kumar Dash is an accomplished plastic surgeon presently working as Senior Consultant in SUM ULTIMATE MEDICARE, Bhubaneswar, Odisha. He was in Maulana Azad Medical College (MAMC), Delhi for his super-specialization (DNB) training.

Detailed explanation-3: -Q. Who is the head of the RBI committee to deepen digital payments? Notes: The Reserve Bank of India (RBI) has recently appointed 5-member committee under the chairmanship of Nandan Nilekani to further deepen digital payments and enhance financial inclusion through Fintech.

Detailed explanation-4: -Digital Lending Apps (DLAs) refer to mobile and web-based applications with user interface that facilitate borrowing by a borrower from a digital lender. DLAs will include apps of REs as well as operated by LSPs which are engaged by REs for extension of any credit facilitation services.

Detailed explanation-5: -The RBI had been closely studying the digital lending and constituted a working group on digital lending on January 13, 2021.