The Reserve Bank of India (RBI) has taken strict action against Datta Finance & Trading Pvt. Ltd., a New Delhi-based Non-Banking Financial Company (NBFC) . RBI has cancelled the company’s registration for failing to comply with lending rules, particularly in its digital loan services .

Why RBI Took This Step

The company was found violating RBI’s outsourcing guidelines for financial services.

Instead of handling key functions internally, it had outsourced critical operations like:

Finding new customers

Verifying customer details (KYC)

Approving loans

Managing loan records

Collecting repayments

These tasks were being carried out through three mobile apps :

KinCash

DoLoan (operated by Zest Top One Technology Pvt. Ltd. )

ZestCash (the company’s own app)

RBI state

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