Month: January 2021

How about when India starts to regulate predatory online loan applications? Delhi HC seeks government and RBI response

App-based personal loans that turn out to be deadly traps have long gone unnoticed as they fall outside of Reserve Bank of India (RBI) regulation. But as the predatory nature of these apps is exposed, there is a growing call to regulate them. bccl / file the The Delhi High Court has sought answers from …

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Beware of online loan apps and their payback methods, cops say

Short term loans from mobile apps might sound attractive and really useful, but they are also dangerous and ruthless when it comes to recovering. Fintech apps, which offer quick loans, are usually not registered with the Reserve Bank of India and therefore do not follow any guidelines or protocols defined by law. It is believed …

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