Maharashtra has recorded the highest number of complaints against digital loan apps



Over 2,500 complaints were lodged by customers with the Reserve Bank of India against digital loan applications (applications) between January 2020 and March 2021, Union Minister of State for Finance Bhagwat informed on Monday. Karad, at the Lok Sabha.


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A total of 2,652 complaints against Digital Lending Applications (DLAs) were received by ‘Sachet’ – a portal set up by the RBI under the State Level Coordinating Committee mechanism to register complaints from the public against unregistered entities. Maharashtra received the highest number of complaints, followed by Karnataka and Delhi.

“The Oversight Department of RBI has been designated as the nodal department to handle complaints against unauthorized digital lending platforms/mobile apps and a mechanism to handle specific referrals on unauthorized digital lending platforms has been established,” said the Minister in a written response.

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