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Payment Aggregators Prohibited from Handling Funds between Lender and Borrower

  • RBI states that a LSP (Loan Service Provider) should not be involved in handling of funds from the lender to the borrower or vice versa.
  • Entities offering only payment aggregator (PA) services are exempt from the Digital Lending Guidelines.
  • Any PA also performing the role of an LSP must comply with the Digital Lending Guidelines.
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