A woman working from home with a laptop computer and mobile phone. (Photographer: Hollie Adams/Bloomberg)
The Reserve Bank of India’s task to weed out fly-by-night digital lending apps will be a regulatory whack-a-mole. Swat one, another pops up elsewhere.Inputs that a central bank internal working group is getting underscore how difficult will it be to tame the problem—because the RBI will be hunting for everything from money mules to clones, in the virtual world.“The problem of unauthorised digital lending is like a tree that never sto...