Illegal Loan Apps
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Opinion | Andhra Man's Suicide And The Menace Of Illegal Loan Apps
Loan apps are used heavily in rural and semi-rural areas, where formal banking systems are scarce. They target disadvantaged sections of society, that is, people with meagre incomes who are ineligible to obtain credit from established platforms.
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Zerodha's Nithin Kamath Warns Against "Shady" Loan Apps, Shares Key Red Flags
Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.
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Chase India Proposes Setting Up Self-Regulatory Body for Digital Lending Industry Amid Crackdown on Loan Apps
Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry.
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ED Files Charge Sheet Against Razorpay, Fintech Firms in Money Laundering Probe Linked to Chinese Loan Apps
The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.
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ED Freezes Fresh Deposits Worth Rs. 78 Crore After Raids at Premises of Razorpay, Chinese Loan Apps
The ED on Friday said it has frozen fresh deposits worth Rs. 78 crore following raids at the premises of payment gateway Razorpay and some banks as part of an ongoing money laundering probe against the alleged illegal operations of loan apps "controlled" by Chinese nationals. The searches were carried out at five premises in Bengaluru on October 19...
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Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
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RBI to Prepare ‘Whitelist’ of Approved Instant Finance Apps Amid Proliferation of Illegal Loan Apps
Finance Minister Nirmala Sitharaman has directed the Reserve Bank of India (RBI) to prepare a ‘whitelist’ of instant finance apps, that are genuinely clear to operate in the nation. Once the whitelist is prepared, MeitY will ensure that only the apps with RBI clearance will feature on application stores.
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Lookout Notice Issued Against 3 Chinese Nationals For Operating Illegal Loan App
The Bureau of Immigration has issued a lookout circular against three Chinese nationals for allegedly operating an illegal digital loan app in India, officials said on Sunday.
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Tax Raids At Fintech Firm; Rs 500-Crore Allegedly Sent Abroad Illegally
A fintech company engaged in giving instant loans through a mobile app has been found to have repatriated Rs 500 crore "non-genuine" funds overseas, the CBDT said on Wednesday.
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Opinion | Andhra Man's Suicide And The Menace Of Illegal Loan Apps
Loan apps are used heavily in rural and semi-rural areas, where formal banking systems are scarce. They target disadvantaged sections of society, that is, people with meagre incomes who are ineligible to obtain credit from established platforms.
-
Zerodha's Nithin Kamath Warns Against "Shady" Loan Apps, Shares Key Red Flags
Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.
-
Chase India Proposes Setting Up Self-Regulatory Body for Digital Lending Industry Amid Crackdown on Loan Apps
Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry.
-
ED Files Charge Sheet Against Razorpay, Fintech Firms in Money Laundering Probe Linked to Chinese Loan Apps
The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.
-
ED Freezes Fresh Deposits Worth Rs. 78 Crore After Raids at Premises of Razorpay, Chinese Loan Apps
The ED on Friday said it has frozen fresh deposits worth Rs. 78 crore following raids at the premises of payment gateway Razorpay and some banks as part of an ongoing money laundering probe against the alleged illegal operations of loan apps "controlled" by Chinese nationals. The searches were carried out at five premises in Bengaluru on October 19...
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Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
-
RBI to Prepare ‘Whitelist’ of Approved Instant Finance Apps Amid Proliferation of Illegal Loan Apps
Finance Minister Nirmala Sitharaman has directed the Reserve Bank of India (RBI) to prepare a ‘whitelist’ of instant finance apps, that are genuinely clear to operate in the nation. Once the whitelist is prepared, MeitY will ensure that only the apps with RBI clearance will feature on application stores.
-
Lookout Notice Issued Against 3 Chinese Nationals For Operating Illegal Loan App
The Bureau of Immigration has issued a lookout circular against three Chinese nationals for allegedly operating an illegal digital loan app in India, officials said on Sunday.
-
Tax Raids At Fintech Firm; Rs 500-Crore Allegedly Sent Abroad Illegally
A fintech company engaged in giving instant loans through a mobile app has been found to have repatriated Rs 500 crore "non-genuine" funds overseas, the CBDT said on Wednesday.
