RBI released a report submitted by the working Group (WG) on digital lending including lending through online platforms and mobile apps. The WG was set up in the backdrop of business conduct and customer protection concerns arising out of the spurt in digital lending activities. The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging innovation. The group has recommended subjecting the digital lending applications to a verification process by a nodal agency, which may be set up in consultation with stakeholders, setting up a Self-Regulatory Organisation (SRO) covering the participants in the digital lending ecosystem, An anti-predatory lending policy, legislation to prevent illegal lending activities by introducing the ‘Banning of Unregulated Lending Activities Act’ among other important issues.