Responding quickly to such complaints, RBI on June 24, 2020 came out with a circular reiterating that banks and NBFCs must adhere to fair practices and outsourcing guidelines for loans sourced over proprietary digital platforms or third-party apps under an outsourcing arrangement. Unfortunately, such developments spurred by purely commercial considerations have dented the credibility of the whole system which flourishes and thrives on trust.
(v)  Finally, a question more relevant here in the Reserve Bank is what of the renminbi, in particular its potential international status?