Copyright © 2026 Authors retain the copyright of this article. This article is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

@article{201397,
        author = {Aditya Singh},
        title = {DIGITAL LENDING IN THE REGULATORY BLIND SPOT: SUPERVISORY JURISDICTION, ENFORCEMENT DEFICITS, AND INTER-AGENCY COORDINATION FAILURES IN INDIA'S FINTECH LENDING SECTOR},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {12},
        pages = {7843-7845},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=201397},
        abstract = {The predatory digital lending crisis of 2019-2022 revealed two broad and systemic flaws in the very structure of the Indian financial regulatory regime governing the enforcement of financial regulation, in addition to its substance. This article looks at three interconnected aspects of the failure of regulation: the structure of the Reserve Bank of India's registration-based supervisory authority, enforcement issues relating to unregistered and foreign-domiciled loans, and the fragmentation of enforcement power across six agencies running parallel with overlapping but non-synchronized powers. The article suggests that harm at scale has continued because there has been a lack of institutions robust enough to enforce the rules, and recommends five institutional reforms – increase in technical supervisory capacity, a penalty regime that is calibrated to deter harm, a statutory private right of action, formal inter-agency coordination, and proactive app-store verification requirements.},
        keywords = {Digital Lending; Reserve Bank of India; NBFC Regulation; Consumer Protection; Fintech; Inter-Agency Coordination; Digital Lending Guidelines 2022.},
        month = {May},
        }