New Delhi: The Delhi High Court has sent a notice to RBI and the Central government on a PIL relating to online digital platforms. The petition said that regulation and guidelines should be issued by RBI to rein in the way leading online platforms and apps are using the online medium to provide instant loans.
The petition said that most of these online digital businesses are being done through mobile apps. In which interest is charged arbitrarily at very high rates. Once you borrow, digital platforms harass interest payers through recovery agents for recovery of money from people. The petition demanded that the percentage of interest on online loan platforms through apps should be fixed to curb harassment of interest-takers.
A Greens redressal unit should be set up in each state to hear and address the problems of the people who are taking interest in this petition. Where interest payers can complain against online platforms if harassment is taking place.
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