Policy1 hSeptember 22, 2026, 13:38

Allahabad HC to decide whether an OTP counts as loan consent

The Allahabad High Court is examining a case where a student took an education loan via an OTP and web link, after which her father's credit score fell from 900 to 681. The court has asked the RBI for instructions, with the next hearing set for October 13.

MediaNama Open source

Allahabad HC to decide whether an OTP counts as loan consent

Student took a Techfino Capital loan via OTP after being contacted by Leverage Edu
Father's credit score dropped from 900 to 681 due to missed payments
Court sought RBI input, giving two weeks; hearing set for October 13
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