Finance Minister Nirmala Sitharaman stated that he Indian government is taking action against questionable digital loan apps. She informed Rajya Sabha that the government is taking action against loan apps that originate outside the country, as well as Indians who assisted in their establishment.
According to a PTI report, she also stated that the majority of the questionable apps originate in a single country. As a result, many borrowers are subjected to harassment, while money is extorted by these apps. As the government ramps up its efforts against such apps, several departments, including the Ministries of Finance, Corporate Affairs, and Electronics and Information Technology, are convening to discuss and chart a course for these cases.
