| Key Aspect | Details |
|---|---|
| Regulatory Action | RBI cancelled CoR of Datta Finance and Trading Pvt Ltd (NBFC). |
| Date of Announcement | September 22, 2025 |
| Reason for Cancellation | Violations in digital lending operations, including improper outsourcing of core functions. |
| Violations | - Outsourcing customer sourcing, KYC, loan disbursal, and recovery.- Breach of Fair Practices Code and Digital Lending Guidelines. |
| Affected Apps | - KinCash, DoLoan (operated by Zest Top One Technology Pvt Ltd).- ZestCash (in-house platform). |
| RBI's Stance | NBFCs cannot outsource core lending decisions; must maintain oversight. |
| Consequences | - Datta Finance barred from NBFC operations.- Business must be wound up or transferred.- Service disruptions for users of KinCash, DoLoan, ZestCash. |
| Advice to Borrowers | Seek RBI clarification or legal help if facing disputes or coercive recovery. |
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