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‘BubbleLoan’ To ‘Rupee Factory’, Loan Apps That Allegedly Defrauded Borrowers
Fraudulent loan apps detected by enforcement agencies are slowly revealing the nature of the digital lending problem.
15 Mar 2021, 08:16 AM IST
As the Reserve Bank of India’s internal working group continues to scrutinise the surge in digital loan apps across India, a number of definite offenders are emerging.These are apps that were either lending without any licence or using wrongful practices to lure and later harass borrowers looking for small-ticket loans. Many of these apps have now been named in first information reports filed by local police authorities where complai...
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