Government is taking action against dubious digital loan apps, according to Nirmala Sitharaman

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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.

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Government is taking action against dubious digital loan apps, according to Nirmala Sitharaman

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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