This State Govt Asks Google To Ban 158 Instant Loan Apps As Borrowers Are Harrassed Endlessly
In a shocking move, the Telangana Police has now asked Google to remove 158 unauthorized lending apps from the Google app store. The reason behind this is that these apps are harassing defaulters.
Apparently, these apps have been implementing some unimaginably brutal loan recovery methods, which have also resulted in people committing suicide for being unable to pay their loans on time.
Read on to find out more about what went down
Telangana Police Ask Google To Remove 116 Apps For Using Aggressive Loan Recovery Methods
Multiple complaints have been received against the representatives of loan instant loan apps for harassing their customers who borrowed money from them. Cases of suicide have also been registered after collection agents contacted relatives and friends of borrowers after they defaulted on loans.
While these apps have made it easy for people to borrow money, their methods of loan recovery have resulted in a series of suicides in India. Reports are that a minimum of 5 people have committed suicide and blamed the loan recovery methods of these apps.
Hyderabad police have already arrested 14 people om relation to these cases in the city and have also asked Google to remove 42 apps that feature online money borrowing facilities. A list of 116 apps has been sent by the Cyberabad police, which they have asked to be removed from the Google Play Store.
Lending Apps Training Teams To Use Brutal Intimidation Tactics While Asking For Loan Repayment
Additionally, the Cyberabad police have reported that these apps are training their teams these intimidation tactics when they contact the customers asking them to repay their loans.
Google had removed five digital lending applications from the Play Store which loaned money on a short term basis at high interest rates, harassment and also attempted to pass themselves off as authorized lenders. These apps include OkCash, Go Cash, Flip Cash, ECash, and SnapIt Loan.
The year has been riddled with hardships with people being unable to repay their loans due to the pandemic, the lockdown imposed and people losing their jobs because of it.