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Telangana police says online instant loan apps illegal, will take action The Telangana police Friday stated that there are at least 60 such loan applications available on Google Play Store which are not registered or recognised by the Reserve Bank of India as an NBFC and their operations were unlawful. Updated: December 19, 2020 12:41:40 pm In connection to the rising number of such cases, the DGP’s office clarified that the rules of the Reserve Bank of India will strictly apply to lenders either online, offline, or from any bank. Taking a serious view of various mobile app companies that offer instant loans, the Telangana police Friday stated that there are at least 60 such loan applications available on Google Play Store which are not registered or recognised by the Reserve Bank of India as an NBFC and their operations were unlawful. ....