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JC - Legal Updates - FAQs on Digital Lending Guidelines

Legal Updates

21 Feb 2023

FAQs on Digital Lending Guidelines


The RBI on 14th February 2023 released Frequently Asked Questions (“FAQs”) on digital lending guidelines which were issued vide Circular DOR.CRE.REC.66/21.07.001/2022-23 dated 2nd September 2022.

Technical Details:

The FAQs provide clarity on various queries of stakeholders inter alia broadly capturing the below:

1)    Clarity on the scope of digital lending, and lending service provider ("LSP");

2)    Disclosure and calculation of Annual Percentage Rate ("ARR");

3)    Governance of EMI programmes on Credit Card;

4)    Extent of services provided by Payment Aggregators;

5)    Refund of processing fee in case of cooling off period; and

6)    Extent of exemption from direct disbursal to the bank account of the borrower, under the co-lending transactions.

For further details, please see:

Reserve Bank of India - Frequently Asked Questions (rbi.org.in)

For any queries / clarifications, please feel free to ping us and we will be happy to chat: 

●  Mr. Ankit Sinha (ankit.sinha@jclex.com)
●  Mr. Saurabh Sharma (
●  Ms. Rupul Jhanjee (rupul.jhanjee@jclex.com)