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Beware! 600 fake money lending apps operating in India, says RBI report : Rashtra News Fake Money Lending Apps in India: As many as 600 illegal money lending apps are operating in India, a report by the Reserve Bank of India (RBI) has said. These apps are available on multiple app stores for Android users ....
DIGITA, once launched, would be entrusted with the responsibility of vetting digital lending apps. Apps not carrying the 'verified' signature of DIGITA should be considered unauthorised for the purpose of law enforcement. ....
The robust demand for credit in the Indian market reflects the dynamic evolution of our fintech landscape, symbolising both the economic strength of our nation and the ambitious aspirations of our people. ....
In fiscal 2023, there were 1,062 complaints against such lending apps. Google removed 134 fake loan apps from its Play Store in a week in September 2023 after series of complaints made against them. A dozen of those loan apps had one lakh downloads and 14 had over 50,000 downloads. ....