Question

As per the Reserve Bank of India's Guidelines on Digital Lending issued in 2022, which of the following practices is PROHIBITED?

A Extension of credit by lending service providers (LSPs) directly from their own funds
B Verification of the customer's identity through the KYC Unique Account Number framework
C Offer of a cooling-off period to the borrower to exit the digital loan
D Disclosure of the all-in-cost of the loan to the borrower in a Key Fact Statement
E Extension of credit by banks exclusively through their own digital channels
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