Government of India is cracking down on personal loan apps and no longer allowing such apps to give loans. The Reserve Bank of India i.e. RBI also sought an answer from Google in this matter. In response, Google has banned more than 2000 personal loan apps.
Tech giant Google has banned many online personal loan apps from its app store. These apps cannot be used after May 31. Google has banned these apps from the Google Play Store for making false claims on customers and wrongly collecting loans. Let us tell you that Google has also recently revised the rules of personal loan apps.
Google removed more than 2000 mobile apps
Google has removed more than 2 thousand mobile apps from its play store. These apps used to offer personal loans and then blackmail people for recovery. Government of India is cracking down on personal loan apps and no longer allowing such apps to give loans. The Reserve Bank of India i.e. RBI also sought an answer from Google in this matter. In response, Google has banned more than 2000 personal loan apps.
Ban on these apps
Google has banned personal loan apps that access sensitive data like photos and contacts in the name of loans. As per Google’s rule then, those apps, which offer personal loans directly to users, have been banned. Also, apps that are lead generators and connect customers to third party loans have been banned.
Due to this ban on personal loan apps
For some time, people’s complaints were coming up regarding the personal loan app. On which cases of wrongful recovery of loans and in many cases of blackmail were coming to light. Many people even committed suicide due to the blackmailing of this app.
In fact, these apps offer loans with easy processing and less time, then collect the money with high interest. Many times people have to repay the loan two to three times.
And if the loan is not taken back, many times threats are made to defame relatives by making photos and videos viral.
