Regulation needed to monitor money-lending applications: Exp

Regulation needed to monitor money-lending applications: Experts


Express News Service
CHENNAI: Several digital lending applications that are unauthorised by financial regulators are available on Google Play Store. The apps which look legit offer short-term credits for a high interest but end up harassing the customer by accessing their contact list and sending unpleasant messages to their family and friends.
"I got a list of apps – all of which use the same Chinese white label provided app or server with names that are similar to popular Indian apps like Udhaar, FlipCash etc. One look at the privacy policy tells that all these are fake apps that are created with no legal entity, landing up on Play Store. The contact given for grievance officers are either fake or does not exist," says L Srikanth, a Fintech researcher who studied at least 10 such apps and his findings forced Google to remove them from Play Store.

Related Keywords

China , Chennai , Tamil Nadu , India , Chinese , Sahaya Novinston Lobo , Google , News Service , Google Play , Sahaya Novinston , New Indian Express , Digital Lending Platforms , Fair Practices Code , சீனா , சென்னை , தமிழ் நாடு , இந்தியா , சீன , கூகிள் , செய்தி சேவை , கூகிள் விளையாடு , புதியது இந்தியன் எக்ஸ்பிரஸ் , டிஜிட்டல் கடன் தளங்கள் , நியாயமான ப்ர்யாக்டிஸஸ் குறியீடு ,

© 2025 Vimarsana