Lok Sabha Question No. 2156 (UNSTARRED), answered on 2021-03-08
Subject: UAC for PSBs
Ministry: FINANCE
Asked by: Dushyant Singh

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO. 2156 TO BE ANSWERED ON THE 8TH MARCH 2021/ PHALGUNA 17,1942 (SAKA)

UAC for PSBs

## 2156. SHRI DUSHYANT SINGH:

Will the Minister of FINANCE be pleased to state:

- whether Uniform Accountability Code (UAC) for Public Banks (PSBs) is formulated by the Government if the details thereof and if not;, the reasons therefor; Sector being SO,

the number of unauthorised digital platforms that have been operating in the country at present; lending whether there are plans of banking operations to proposed for Staff accountability for rauds and if s0, the details thereof and if not; the reasons therefor; limiting 5-days

- the details of the amount of disbursed by these platforms so company-wise; loans fat,

whether the Government is planning to set up new guidelines for online and if the details thereof and if not; the reasons therefor? lending SO,

- the corrective steps taken by the Government to prevent fraudulent activities of these lenders; and

## ANSWER

## THE MINISTER OF STATE FOR FINANCE (SHRI ANURAG SNNGH THAKUR)

(a): Sir: No,

(6): There is no proposal at present for banking operations to five limiting days.

With  respect to staff accountability on frauds, extant guidelines, circulars, rules and directions by the Government and the Reserve Bank of India (RBI) on the subject are already in place.

(c) and (d): The RBI, as banking regulator; has informed that the information is not maintained with them

(e) and (f): Ministry of Electronics and Information Technology has informed that to prevent fraudulent activities of such lenders, it has blocked 27 loan apps under Section 69A of the Information Technology 2000. lending Act;

- Vide its circular dated 24.6.2020 to banks/NBFCs has reiterated them to adhere to Fair Practices Code and Outsourcing Guidelines   applicable to to disclose names of digital platforms engaged as agents on the website and the platforms to disclose upfront the name of the lending institutions on whose behalf are interacting with customers. them; lending they

With respect to up of new guidelines for online RBI has informed that following measures have been taken to address the concern and tisks emanating from the operations of unauthorized digital lending platforms: lending; setting

- Members of general were cautioned vide  press release issued on unauthorized digital lending platforms/apps with an to verify the antecedents of the service provider with  translation in vernacular languages also released in the local media across States. public against appeal being
- (i) Chief Secretaries of the States have been requested to consider proactive intervention in such matters by the State law enforcement agencies as per applicable laws
- (iv) Constituted on 13.1.2021 to study all aspects of digital activities including lending through online platforms and mobile apps by RBI regulated and unregulated entities and come out with recommendations, inter alia, pertaining to regulatory and customer protection measures. Working Group lending