Digital India Trust Agency to Be Set Up By RBI To Stop Illegal Loan Apps

As part of its efforts to curb increasing cyber fraud, the Reserve Bank of India(RBI) is considering establishing a Digital India Trust Agency (DIGITA) to control the growing of illegal lending apps. 

The proposed agency will enable verification of digital lending apps and keep a record of public register of verified apps, sources said.

Apps not carrying the ‘verified’ signature of DIGITA will be considered unauthorised for the purpose of law enforcement, sources said, adding that this will serve as a important checkpoint in the fight against cyber crimes in the digital realm. DIGITA, once established, would be entrusted with the duty of vetting digital lending apps, they noted.