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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.

Reserve Bank of India

08 Jun 2022

“Approach local police if…” RBI clears its stance against unregistered apps

Das made it clear that the RBI will only act in cases against entities registered with the central bank. He highlighted that most of the digital lending apps are not registered with RBI. The RBI Governor said that whenever the central bank receives a complaint from any customer.

08 Mar 2021

Planning to take a loan? Here’s how to maintain safety of your documents

Next comes the safety factor where borrowers need to share their personal and important documents via a safe and secure communication channel and to safeguard further, they can protect documents with a password. Checking online reviews is very important when it comes to unauthorized lending apps and sharing personal documents and data with them. Lastly, they must ensure to check the fineprint before sharing documents on these platforms.

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