Platforms offering digital gold loans, especially those using Lending Service Providers or NBFC partnerships, must now comply with all the new clear accountability norms.
New Delhi: Amid growing concerns in the digital lending sector, the Reserve Bank of India (RBI) has issued the Digital Lending Directions, 2025. It has consolidated and updated guidelines to enforce more transparency in the lending ecosystem.
Guidelines On Digital Lending
In June 2020, the RBI’s circular on Loans Sourced by Banks and NBFCs over Digital Lending Platforms laid down fair-practice and outsourcing norms, flagging concerns about mis-selling and third-party overreach. By September 2022, the “Guidelines on Digital Lending” broadened definitions for Digital Lending Apps, mandated Key Fact Statements (KFS) and fair recovery practices and marked the first comprehensive attempt to tame the frontier of fintech lending.
Borrowers Continue To Face Difficulties
Despite these rules, borrowers faced misleading product pushes, hidden charges and even coercive recovery by unregulated agents, undermining trust in digital credit.
Recognising a surge in scam calls impersonating banks, the RBI has now allocated “1600xx” for transactional calls and “140xx” for promotional voice/SMS, so customers instantly know a call is legitimate.
Leading to this, on May 8, 2025 RBI issues its most granular framework yet, the “Digital Lending Directions, 2025”, covering everything from fund-flow transparency to loss-guarantee structures.
What Has Changed For Digital Goal Loan Borrowers?
According to Ameet Venkeshwar, CBO, LoanTap, under the new guidelines, the loans must land straight in the borrower’s bank account and no third-party or LSP pass-throughs are allowed.
“Also, digital lenders must furnish a digitally signed KFS (Key Fact Statements) including APR (Annual Percentage Rate), fees and penalty terms and link it in every offer,” Venkeshwar added.
Platforms offering digital gold loans, especially those using Lending Service Providers or NBFC partnerships, must now comply with all the new clear accountability norms.
Digital gold loans may be like a lifeline for many low-income, rural, or gig workers who lack a formal credit history. RBI’s directions empower this segment to access formal credit while ensuring transparency and accountability.
