The finance minister last week added heft to RBI's attack on illegal loan apps. Last month, RBI had issued guidelines that of digital intermediaries hired by them to drum up lending business. Gol has now asked RBI to prepare a 'whitelist' of legal apps, which will be the only ones app stores can host. The scale of the problem can be gauged from data collected by RBI in 2021. Over two months, January and February, RBI found 1,100 unique Indian loan apps available in over 81 app stores, of which 600 apps were illegal.
This story is from the September 12, 2022 edition of The Times of India Mumbai.
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This story is from the September 12, 2022 edition of The Times of India Mumbai.
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