Ashneer Grover calls RBI’s digital lending guidelines ‘worst’; why over here

Grover, who has a reputation for being curt and crusty, went on to say, “Essentially RBI is telling fintechs that ‘bro, don’t do digital lending! Banks don’t happen, we don’t understand, and pen paper sales will also go down’ (RBI is telling fintechs: don’t do digital lending, banks aren’t able to do it, we don’t understand either, and pen and pair sales will also drop)”.

However, most of the netizens disagreed with Grover’s statement. He said the RBI’s digital lending guidelines are significant as he faced harassment from various fintech firms.

One user wrote, “You should also try to hear the cries of thousands of people who either committed suicide or went into depression due to harassment from digital lenders,” wrote user Rahul (@Rahul07773041).

Another user wrote, “Understand your sentiments but the recent pathetic practices by Ola and Paytm have no option left! This is a right move. You should not do business by fooling customers”.

One Twitter user wrote, “Right boss… charging 52% interest in the name of digital lending saying that fintech companies are doing innovation? This is not innovative… these things need to stop.” Fintech app modern is Shahukar’s version…”

Another person wrote, “RBI does not want borrowers to commit suicide due to the highest level of harassment by fintech lenders. It is better not to give loans themselves than to force customers to take extreme steps.”

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