Google India Removes Unsafe Personal Loan Apps

Google has recently started reviewing various personal loan apps in India. As a start, Google has also removed some personal loan apps from the Play Store that violated its policies.

Key Points

• Although the exact number of apps removed by Google is not, as per reports, the company removed 30 such apps.
• As per reports, LazyPay, Finance Buddha, Cashguru, Rupeeclick, 10MinuteLoan, etc. are some of the apps that have been removed by Google.
• The review of these apps was done as per the flags/suggestions made by the users and government agencies.
• The apps which violated the user safety policy of Google were immediately removed and developers of other identified apps have been asked to demonstrate that they comply with policies, laws, and regulations.
• Apps that will fail to comply with the policies will be removed without any prior notice.
• Google received 890 requests for removal of content or app for violating laws between January and June 2020, by the Indian government.

RBI Committee to regulate digital lending frauds

The Reserve Bank of India has set up a 6-member committee to look into the issue of online lending frauds and to study the digital lending activities of the regulated and unregulated players. The committee will be headed by Jayant Kumar Dash.