Mumbai: The Reserve Bank of India (RBI) has made it mandatory for all regulated lenders to report their digital lending apps (DLAs) starting May 13, 2025. The move is part of the updated RBI (Digital Lending) Directions, 2025, aimed at tightening regulatory oversight in the digital lending ecosystem.
Mandatory Reporting and Timeline
Under the new norms, all regulated entities (REs) must upload the details of their DLAs on the Centralised Information Management System (CIMS) portal, which goes live on May 13. The deadline for submitting the initial list is June 15. This reporting mechanism is designed to improve transparency and identify unregulated or unauthorized lending platforms.
RBI to Release Public Directory by July
The RBI has announced that it will publish a public directory of DLAs on its official website by July 1. This list will help users verify whether a lending app is connected to an RBI-regulated lender. However, the RBI has clarified that the accuracy of the uploaded data is the responsibility of the regulated entities, as the list will be displayed on an “as is†basis. Updates to the directory will be automatic, reflecting any changes made by the REs.
New Norms for Loan Aggregation and Third-Party Partnerships
To make the loan process more transparent, the RBI now requires lending service providers (LSPs) that work with multiple lenders to display all matched and unmatched loan offers to borrowers. Apps must show complete lender details, ensuring that borrowers have a clear view of available options. Further, before partnering with any third-party LSPs, REs are required to conduct due diligence. This includes evaluating the partner’s technical systems, data handling policies, and security infrastructure.
