Government putting pressure on Google to help curb illegal lending apps

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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.

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Government putting pressure on Google to help curb illegal lending apps

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.

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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