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HinduBusinessLine
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Lending, good and bad
- There is a need to crack down on unregulated lending by digital apps and platforms.
- A distinction should be made between digital lenders and the informal credit market.
- The proposal to ban unregistered digital lenders is a good step to prevent money laundering and systemic risks.
- The penalties specified in the Bill are stringent and may have adverse socio-economic consequences.
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