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RBI sees 'dark patterns' in mis-selling of digital loans
![IndiaTimes]()
Friday, 24 November 2023
RBI deputy governor M Rajeshwar Rao has cautioned about 'dark patterns' in mis-selling of digital loans where customers are deceived into availing high-cost loans. The deputy governor has also said that RBI will relook at risk management framework for lenders on liquidity and market risk. According to Rao, mis-selling has taken on a digital form known as 'dark patterns'. These design interfaces and tactics are intended to deceive users into specific behaviours, such as obtaining high-cost, short-term consumer credit under the guise of an instant loan.
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Friday, 24 November 2023
