Digital Business Lending Safety: Verify the Lender and Your Data Consent

A fast digital loan journey should still tell the borrower who lends the money, what it costs and which data is requested. Speed does not replace informed consent.

Check the digital lending journey

1. Look for the name of the bank or NBFC responsible for the loan and verify the route from the lender’s official channels.
2. Read the loan offer and KFS before accepting. Save a copy of the agreement, charges and repayment schedule.
3. Review data permissions. Grant only access necessary for the service and understand how to withdraw consent where provided.
4. Check where the disbursal and repayment go, and keep transaction references. Escalate a complaint through the regulated lender’s official grievance process.

A practical example

A message asking you to send an upfront fee to a personal UPI ID or install an unrelated app is a reason to stop and verify directly with the named lender.

Before you act

Never share an OTP, UPI PIN or banking password with a caller. A marketplace listing is not proof that an app is an approved lender.

Official or primary reference: RBI public FAQs. Check the latest terms at source before making a financial decision.

Read credit information on Rawhub before choosing a lending offer.