across india, at least 60 people have taken their own lives after being abused and blackmailed by loan apps. bbc eye investigations goes undercover to reveal the scam that s plaguing india. ..and to expose the people making money from misery, fear and shame. this is how the trap is set. you get a message saying you ve been approved for an instant loan. all you have to do is download the app, accept the terms and conditions. ..and the money is yours. what you don t know is you re already in the trap. the app is extracting all your personal information your id cards, your photos and videos. ..the names and numbers of yourfamily, your colleagues, yourfriends. that s when the extortion begins. my name is poonam agarwal. i am an investigative reporter. last year, i began to hear stories about people scammed by loan apps. most victims are too ashamed to talk, but one wanted to warn of the dangers of the trap. bhoomi moved from loan app to loan app, borrowing one loan to pay anoth
After building Flipkart, Sachin Bansal is now devoting his full attention to his fintech startup Navi. In an interview with Moneycontrol, Bansal said he is putting in 80 to 100 hours a week into building the company.
The searches were carried out on February 23-24 against a company named NIUM India Pvt Ltd and its directors based in Mumbai, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, Tyrannus Technology Pvt Ltd, Future Vision Media Solutions Pvt Ltd, Aprikiwi Solution Pvt Ltd. in Chennai and Raphael James Rozario at Kochi.
In recent times, Indian authorities have been cracking down on entities that are operating loan apps illegally and the ministry has also been acting against companies and related individuals for hiding beneficial ownership.
The Indian corporate affairs ministry is investigating several Chinese companies, particularly those connected to loan apps, for alleged violations, with some probes in advanced stages. Authorities are tightening scrutiny on entities operating illegal loan apps, and the ministry, which enforces the companies law, is examining potential fraud and beneficial ownership concealment