Recently, this issue has come to the fore. People are suffering from insecurity with loan apps. 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 already come forward to resolve the issue. Google removed about 100 illegal apps from the Play Store between December last year and January 20 this year. This is because the apps do not comply with the country’s banking regulations and laws. Somewhere or other, the relevant apps have broken the rules. Such information was given in the Lok Sabha on Wednesday on behalf of the Ministry of Information Technology.
People are being repeatedly deceived by multiple apps and several third-party apps in the Google Play Store. Towards the end of the year, there was an uproar over this. This time Sanjay Dhotre, Minister of State for Information Technology, presented the information. In a written reply, he said steps have already been taken. The RBI has come forward to solve the problem. In a month and a half like that, Google has removed 100 apps from the Play Store alone.
He further added that the personal loan app has been accused of high interest rates, solicitation of users’ personal information, misuse of information and financial misappropriation. There have been allegations of illegal steps for loan recovery from different parts of the country. Several cases are pending in the court at present. However, strict measures have been taken by the administration and the ministry. Work is underway to identify and remove fraudulent apps.
Suzanne Frey, vice president of Google’s products, Android’s security and privacy department, also hinted at taking precautionary measures. He said that a survey has been started on multiple personal loan apps. In addition to official reports, user experiences and comments are being considered. Apps have been removed from the Play Store in the interests and privacy of users. Notices have been issued to several app authorities.
By the way, more than 30 apps were removed by Google earlier this month. Google was alerted by 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 app after another started to be removed from the Play Store. The list included PayU’s credit platform LazyPay. There are also apps like Cashguru 10 MinuteLoan, Rupeeclick, Finance Buddha X-Money, Extra Coin and StuckRead.
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