Banking · Digital Banking & RBI Guidelines

Consider the following statements regarding the digitalization of retail banking in India: Statement I: The CBDC-Retail (e-rupee) is a direct liability of the commercial bank that issues the digital wallet to the customer, similar to the balance held in a traditional savings account. Statement II: Digital lending products must comply with the RBI's 'Digital Lending Guidelines' which mandate that all loan disbursals and repayments must be executed directly between the bank's account and the borrower's account without any third-party pool accounts. Statement III: Neobanks in India are fully licensed banking entities that operate exclusively online without any physical branches, regulated directly under a special 'Neobanking Act'. Statement IV: The 'Key Fact Statement' (KFS) is a mandatory digital document that must be provided to a retail borrower before the execution of a loan agreement, detailing the All-In-Cost of the loan including the Annual Percentage Rate (APR). Statement V: Under the 'Unified Lending Interface' (ULI), the RBI aims to provide a seamless flow of digital information including land records from various states to speed up the appraisal of retail and agricultural loans. Which of the statements given above are correct?