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(Representative image) MUMBAI: At least 10 Indian lending apps on Google’s Play Store, which have been downloaded millions of times, breached Google rules on loan repayment lengths aimed at protecting vulnerable borrowers, according to a Reuters review of such services and more than a dozen users. Four apps were taken down from the Play Store - where the vast majority of Indians download phone apps - after Reuters flagged to Google that they were violating its ban on offering personal loans requiring full repayment in 60 days or less. Three of these apps - 10MinuteLoan, Ex-Money and Extra...

Indian Loan Apps on Google Play Store Charging High Interest on Short-Term Loans in Policy Violation Some apps charged interest rates as high as 60 percent per week. By Reuters | Updated: 11 January 2021 17:27 IST The lending app industry has separately attracted the scrutiny of police as they are investigating Highlights The four apps were advertising loan tenures of 30 days The apps are 10MinuteLoan, Ex-Money, StuCred, and Extra Mudra At least 10 Indian lending apps on Google's Play Store, which have been downloaded millions of times, breached Google rules o...

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At least 10 Indian lending apps on Google's Play Store, which have been downloaded millions of times, breached Google rules on loan repayment ...