Who Are We

Digital Lenders’ Association of India (DLAI), comprising 80+ members with $5-6 billion in annual disbursements, represent around 85% of the transaction volume of digital credit industry in India.

DLAI was formed in the year 2016 by 9 leading players – Capital Float, NeoGrowth ,Zest Money, LendingKart, KredX , Indifi, IndiaLends, MoneyView and UPF Limited

The primary objective of DLAI has been to bring together digital lenders – MSME & Consumer, marketplace platforms and industry members to create a platform for sharing best practices, conduct research on innovative business models and work with regulators, industry experts & other government bodies to set the broad contours on policy matters beneficial to the entire digital credit industry.

The key objectives of DLAI are:

  • To promote the responsible growth of the digital lending sector by creating awareness amongst key stakeholders including customers, companies, partners & regulators
  • To foster innovation in financial technology around digital lending and promote new business models like marketplace platforms, online aggregators, etc. in India
  • To represent, advise and consolidate the efforts of the Digital Lending Industry
  • To strive for a model code of ethics to be followed by each member
  • To share best practices amongst members and spearheading collaboration opportunities with international partners
  • To aim for financial inclusion at the lowest level and facilitate the reach of financial services to the last mile

DLAI’s body of work:

Over the years, DLAI has played an important role in representing, advising and consolidating the efforts of digital lending players amidst regulatory bodies. Some of the recent examples include

Steps to support moratorium to be extended to Digital Lenders: At the beginning of the lockdown, when many large financial institutions were delaying the decision on passing on the moratorium benefits to Digital lenders, DLAI took active steps in formulating and representing the interest of Digital Lending firms amidst regulators and government bodies.

Privacy Law: DLAI’s team put together their recommendations and suggestions for maintaining a balance between representing a customer’s interest and regulatory requirements for data privacy. For e.g. DLAI had suggested Video KYC as an option for KYC.

P2P Guideline: Post its submission to RBI regarding the P2P guidelines, many of its recommendations and concerns were clarified via a further set of guidelines and FAQs.