Question
As per recommendations given by the Working Group on
Digital Lending, which organisation should be given authority as a member or need-based invitee considering increased role of mobile phones & network operators?Solution
Given the increasingly critical role played by mobile phones and mobile network operators (MNOs) in the financial system, The Working Group on Digital lending recommended that there shall be a regular agenda at State Level Coordination Committee (SLCC) meetings covering reports on unauthorized apps in the market involved in digital lending/ illegal recovery and such other types of activities, and TRAI should be inducted as a member or need-based invitee of SLCC. It was accepted that need based invitation to TRAI will be taken up with TRAI by the RBI.
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