The Reserve Bank of India (RBI) and the Ministry of Electronics and Information Technology (MeitY) have been tasked with ensuring that only the whitelisted loan apps are available for download on the Google Play Store and the Apple App Store.
Union Finance Minister Nirmala Sitharaman directed the RBI on September 8 to create a whitelist of loan apps by assessing and approving apps that follow the digital lending guidelines released last month. To combat these illegal loan apps, a large-scale investigation involving multiple agencies and ministries is currently underway.
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The Reserve Bank of India (RBI) and the Ministry of Electronics and Information Technology (MeitY) have been tasked with ensuring that only the whitelisted loan apps are available for download on the Google Play Store and the Apple App Store.
Union Finance Minister Nirmala Sitharaman directed the RBI on September 8 to create a whitelist of loan apps by assessing and approving apps that follow the digital lending guidelines released last month. To combat these illegal loan apps, a large-scale investigation involving multiple agencies and ministries is currently underway.
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.
