Regulation of Digital Money Lending Platforms- SC declines to interfere in Policy decisions

Shankar Nagesh Mutkiri Vs Reserve Bank of India (Supreme Court of India)

Invoking the jurisdiction under Article 32 of the Constitution, the petitioner seeks a direction to the Reserve Bank of India (RBI) to take steps to regulate or disable unauthorized money lending platforms; to frame guidelines to ensure oversight over digital money lenders and for banks/NBFCs which are participating with the digital lending platforms and for protecting the personal data of users.

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