RBI Has Found 600 Illegal Lending Apps, Government Blocked 27 Of Them
NDTV
Around 600 illegal lending apps have been found by a Reserve Bank of India working group, while the government has blocked 27 such apps
Around 600 illegal lending apps have been found by a Reserve Bank of India (RBI) working group, while the government has blocked 27 such apps.
Interestingly, the RBI working group found these illegal apps during a short span of just two months, i.e. between January 1, 2021 and February 28, 2021.
At the same time though, the RBI received as many as 2,562 complaints against such digital lending apps between January 1, 2020 and March 31, 2021.
The Ministry for Electronics and Information Technology has blocked 27 unlawful loan lending apps under the provisions of Information Technology (Procedure and Safeguards for Blocking for Access of Information for Public) Rules, 2009 notified under section 69A of Information Technology Act, 2000.
