Insight - India s digital loan sharks face crackdown thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
During the pandemic, apps promising quick cash have mushroomed. Many capitalise on borrowers’ lack of financial literacy, charging interest rates as high as 500 per cent annualised and in some cases employing heavy-handed collection tactics that Indian activists have linked to a string of suicides.