Wednesday, March 29, 2023
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      Google removes multiple personal loan apps from Play Store, RBI behind the scenes

      There have been allegations of fraud from various parts of the country after falling into the trap of multiple loan-related apps. Users’ confidential information is also insecure. The Reserve Bank of India has come forward to resolve the issue. And from that source, Google has removed a bunch of illegal apps from the Play Store. It is learned that this work has been done on the instructions of RBI. In this case, Google has removed 30 apps from the Play Store that do not comply with the country’s banking regulations.

      The operation started on Wednesday evening. More than 30 apps have been identified and removed so far. However, it started in early January. Google was warned on behalf of the RBI at a virtual meeting at the time. According to RBI officials, there are hundreds of loan apps in the Play Store without complying with banking regulations and local cyber laws. These are extremely dangerous. The Reserve Bank also said that these should be removed quickly.

      After that, one by one, many apps started to be removed from the Play Store. The list includes PayU credit platform LazyPay. There are also apps like Cash Guru 10 Minute Loan, Rupeeclick, Finance Buddha X-Money, Extra Currency and StucRed.

      The RBI also said it would hold separate meetings with several lenders and app companies. The privacy settings for the rest of the apps have already been checked. Several apps are about to start their service again by fulfilling all the conditions. In this case, it is heard that a time limit will be fixed for lending in the apps.

      In this regard, Suzanne Frey, Vice President of Security and Privacy at Google’s Products, Android, said that a survey has already been launched on multiple personal loan apps. In addition to official reports, user experiences and comments are being considered.

      He said that the apps have been removed from the Play Store keeping in mind the interests and privacy of the users. Notices have been issued to several app authorities. The process is ongoing. His hope – all problems will be solved quickly!

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