DIGITA: RBI’s Weapon Against Unlawful Lending Apps

The Reserve Bank of India is contemplating the establishment of a Digital India Trust Agency (DIGITA) to crack down on illegal lending apps. DIGITA will verify apps, ensuring compliance, accountability, and transparency in the digital lending sector. RBI also provided a list of apps to Google for whitelisting, leading to the removal of over 2,200 apps from the PlayStore. Indian embassy in Cambodia is working to rescue citizens coerced into cyber fraud schemes. (Source: PTI)

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