Key Points
The Reserve Bank is contemplating the establishment of a Digital India Trust Agency (DIGITA) to address the proliferation of illegal lending apps, PTI reported.o)..
Apps lacking the 'verified' mark from DIGITA would be considered unauthorised for law enforcement purposes, serving as a crucial checkpoint in combating financial crimes in the digital domain..
The proposed agency would aim to verify digital lending apps and maintain a public register of verified apps..
The RBI has provided the IT ministry with a list of 442 digital lending apps for Google's whitelisting..
Google now enforces a policy allowing only apps published by RBI-regulated entities (REs) or in partnership with REs on the PlayStore, following requests from the RBI and the Department of Financial Services under the finance ministry..
