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Fintech firms write to Google, demand uniform regulations

Fintech firms write to Google, demand uniform regulations
Fintech firms write to Google, demand uniform regulations

Synopsis

Online lending firms say that Google is acting like a super regulator, seeking details that even the RBI is yet to do. They have written to Google with the names of Chinese apps that have 7-14 day products while its policies don't allow lenders with products of less than 60 days.

Mumbai: Miffed by Google’s diktat to furnish their credentials, fintech lenders have now written to the tech giant citing its policies of not allowing lenders disbursing short-tenure loans of less than 60 days. Fintech lenders say that Google is acting like a super regulator, seeking details that even the Reserve Bank of India (RBI) is yet to do.“We have written to Google on the need for uniform regulations among fintech players, Google says you
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