The Indian government and central bank have asked Alphabet Inc’s Google to implement more stringent checks to help curb the use of illegal digital lending applications in India.
Despite the fact that Google does not fall under the purview of the Reserve Bank of India (RBI), the US tech giant has been summoned several times in recent months to meetings by the central bank and the Indian government and urged to implement tougher checks and balances that can aid in the weeding out of such apps, according to four sources. Indian regulators have already asked lenders to tighten controls on illegal lending apps that grew popular during the pandemic. Indian regulators have already asked lenders to tighten controls on illegal lending apps that grew popular during the pandemic.
