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Loan apps News

18 Jul 2023

Nithin Kamath Warns Against Shady Loan Apps, Urges Victim To Report Harassment

In light of this alarming situation, Kamath urged victims to seek help and justice by filing complaints through the official cybercrime portal at https://cybercrime.gov.in or by calling 1930. He emphasized that existing laws are in place to protect individuals from harassment.

Google Loan Apps

06 Apr 2023

Google Reins In Instant Personal Loan Apps Amid Growing Cybercrime Frauds

The tech giant implemented new restrictions in its Personal Loans policy on Wednesday for apps on Play Store to prevent access to external storage, photos, videos, contacts, precise location, and call logs.

27 Aug 2022

Google deletes 2000 personal loan apps from Play Store in India

Google removes 2000 loan apps from Play Store. Google took notice of the unregulated lending apps after the Reserve Bank of India (RBI) recommended a law prohibiting unregulated lending activities (BULA). Loan apps that appear to be harmless may pose a risk to users in the real world.

Google Play Store

25 Aug 2022

Google removed over 2000 loan apps since Jan; Check details

Google has removed over 2,000 loan apps from India Play Store since January. Predatory loan app problem in India has worsened with the expansion of digitalisation. The tech giant also looks to tighten policies in the coming weeks for greater checks in this space.

Reserve Bank of India

06 Jul 2022

1 in 2 Indians facing extortion, data misuse via instant loan apps: Survey

RBI takes a tough stand against unregistered digital loan lending apps RBI has disallowed non-bank PPIs from loading credit Instant loan apps are cheating with their consumers

19 Nov 2021

Digital Lending Fraud: RBI panel finds 600 illegal loan apps on app stores

These apps are hosted on app stores for Android users in India. There were approximately 1100 lending apps available for Indian Android users across 80+ application stores. In the recent past, digital lending frauds are on the rise.

18 Nov 2021

RBI working group suggests separate law to prevent illegal app-based loans

The panel also made several other suggestions to regulate digital lending. The working group was constituted by RBI in January 2021. The group was tasked with issues related to digital lending, including lending through online platforms and mobile apps.

15 Jun 2021

Zee Exclusive: Do’s and Don’ts of applying for loans on digital platforms

Digital loan process. How to proceed for Digital loan? How to get Digital loan with safety?

31 May 2021

Borrowing from loan apps; know how to identify genuine fintech lenders

Fintech lenders provide convenient credit access. Credit to diverse set of consumers. Be mindful towards identifying the legitimacy of lenders.

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