RBI Makes It Mandatory to Report Digital Lending Apps in CIMS Portal from May 13

The Reserve Bank of India (RBI) has instructed all regulated entities (REs) to report details of their digital lending apps (DLAs) through its Centralised Information Management System (CIMS) portal. This requirement is part of the Digital Lending Directions, 2025, for consolidating various previous instructions issued to these entities.

Timeline for Implementation

The CIMS portal will be operational from May 13, 2025. REs have been given time until June 15, 2025, to upload their initial set of data related to their DLAs.

Purpose of the Public List

The RBI will maintain a publicly accessible list of reported DLAs. This list will be automatically updated based on the data submitted by REs and will be hosted on the central bank’s website. The sole purpose of the list is to help customers verify if a digital lending app is linked to a regulated entity. RBI has stated it will not validate or endorse the apps listed.

LSP Disclosure Requirements

If a Lending Service Provider (LSP) is working with more than one RE, it must provide borrowers with a consolidated view of all available loan offers that match their request. This view will also include the names of lenders whose offers did not match the borrower’s requirements.

Due Diligence Obligations

Reports suggest that REs must carry out enhanced due diligence before entering into partnerships with LSPs. This includes assessing the LSP’s technical capabilities, data privacy standards, and information storage systems.

REs must complete their data submissions by June 15. LSPs have until November 1, 2025, to meet the new presentation requirements.

Impact on Lending Firms

Public and private sector players involved in digital lending, such as Bajaj Finance, Paytm, Muthoot Finance, and others, may need to make backend system changes to align with the new framework.

Read more: RBI tightens rules for NBFC-P2P lending platforms

Conclusion

The directive introduces a structured reporting process for digital lending apps and places responsibility on both regulated entities and service providers to ensure accurate disclosures within set timelines.

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