Tech giant Google has announced a new procedure to complete the addiitional proof
it now requires personal loan apps in India to complete the additional proof of eligibility requirements
The eligibility includes copy of their license by the Reserve Bank of India (RBI)
and declaration that they are not directly engaged in money lending activities
and are only providing a platform to facilitate money lending by registered Non-Banking Financial Companies (NBFCs)
"If you are licensed by the RBI to provide personal loans, you must submit a copy of your license for our review,"
If you are not directly engaged in money lending activities and are only providing a platform to facilitate money lending
you will need to accurately reflect this in the declaration,"