Man alleges harassment and public shaming by loan app
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Lender charged a fine of ₹3000 per day, say police
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Lender charged a fine of ₹3000 per day, say police
A man from Saidabad approached police on Saturday night alleging harassment, public shaming and threatening by an app-based instant loan provider
The victim, Sai Aravind Dauluri, a resident of Singareni Colony in Saidabad, told the police that he had borrowed ₹ 3,500 from ‘My Bank’ app in the month of November and the company had disbursed ₹ 2,600 after deducting processing fees and interest.
As he repaid the loan amount within a week, the company unlocked more features for him and he borrowed additional ₹ 30,000 for which he was asked to repay ₹ 55,000 within a period of one week.