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Lenders typically get serious with regards to recovery when there is a prolonged delay in repayment of the loan. While there is no immediate threat of asset being taken over by the lender however, in the long run an unsettled default could be very costly.
Fintech lenders provide convenient credit access to a diverse set of consumers, including new to credit customers and other underserved sections. However amidst financial crunch and desperate times, borrowers need to be mindful towards identifying the legitimacy of lenders.
ED attaches assets worth Rs 76 Crore in Chinese loan app scam ED attaches assets worth Rs 76 Crore in Chinese loan app scam The Enforcement Directorate has attached ₹76.67 crore lying in various bank accounts and payment gateways linked to some Chinese loan App companies and their Indian associates. advertisement Illustration for representational purposes (Siddhant Jumde) The Enforcement Directorate (ED) has attached money to the tune of Rs 76.67 crore, lying in various bank accounts and payment gateways, in connection with Chinese loan application companies and their Indian associates, of...
Highlights Many customers who had availed loan faced harassment Bengaluru: Enforcement Directorate (ED) has attached Rs 76.67 crore lying in various bank accounts and payment gateways pertaining to Chinese loan app companies and their Indian associates. The provisional attachment order was issued under the Prevention of Money Laundering Act, 2002 (PMLA). The agency initiated an investigation on the basis of various FIRs registered by CID, Bengaluru on the complaints received from various customers who had availed loan and faced harassment from the recovery agents of the money lending companie...
ED attaches assets worth over Rs 76 cr of Chinese loan app companies ANI | Updated: May 11, 2021 23:27 IST New Delhi [India], May 11 (ANI): The Enforcement Directorate (ED) on Tuesday issued a Provisional Attachment Order under the Prevention of Money Laundering Act, 2002 (PMLA) attaching Rs 76.67 Crore, lying in various bank accounts and payment gateways pertaining to Chinese Loan App companies and their Indian associates. The ED initiated investigation on the basis of various FIRs registered by CID, Bengaluru based on the complaints received from variou...