Harassment by Recovery Agents of Digital Loan Apps Under Radar

YSRCP MP Vijayasai Reddy requested Finance Minister Nirmala Sitharaman and IT Minister Ashwini Vaishnaw to take stringent action against the harassment by the recovery agents of the unregulated lending apps or loan apps. He took to his Twitter and tweeted, "Honourable Nirmala Sitharaman and IT Minister Ashwini Vaishnaw to take strict action against harassment by recovery agents of unregulated digital lending apps or Loan Apps. These China linked apps are stealing information from people’s phones and harassing them."

It is all known knowledge that a couple in Andhra Pardesh died by suicide on September 7 allegedly due to harassment by agents of a loan app. Subsequently, AP CM YS Jagan Mohan Reddy directed the officials to take action against the online money-lending apps for harassment and blackmailing users.

Last month, Google informed that it removed over 2,000 loan applications from Play Store in India since January this year for violating terms, misrepresenting information, and questionable offline behaviour.

Saikat Mitra, Senior Director and Head of Trust and Safety, Google APAC (Asia Pacific region) said, "We are in the process of some more policy changes that are going to come out in a matter of few weeks...which will make it more explicit on requirements and added that the proposed move will lead to tighter checks."

The government of India has been putting all its efforts to remove the fake lending apps.

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