India: Reserve Bank of India (Digital Lending) Directions, 2025 (RBI/2025-26/36) including multi-lender platform obligations enters into effect

On 1 November 2025, paragraph 6 of the Reserve Bank of India (Digital Lending) Directions, 2025 entered into force, setting out requirements for digital lending arrangements where Lending Service Providers (LSPs) partner with multiple Regulated Entities. The provision mandates that platforms must present a neutral and comparable digital view of loan offers from all participating lenders that match a borrower’s request. Each offer must disclose the lending entity’s name, loan amount, interest rate, tenor, repayment obligations, and penal charges. The platform must also link to the Key Fact Statement for each offer. LSPs are prohibited from using deceptive interface designs or favouring particular lenders.