Apps Ban: The government’s big action! As many as 87 fraud loan apps have been banned in the country, don’t you have these apps in your phone?

• Transaction started without any permission
• Scammers were charging people exorbitant interest
• Action taken under IT Act and Companies Act

Government of India has decided to ban unauthorized apps across the country. The government has taken action against 87 fraudulent loan apps in the country and banned them. The Ministry of Electronics and Information Technology has ordered the banning of around 87 fraudulent loan apps. These are the apps, which were run in the country without any permission. The action has been taken under Section 69A of the Information Technology Act 2000, which was informed in the Lok Sabha by Union Minister of State for Corporate Affairs Harsh Malhotra.

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What is the cause of action?

The web of fraudulent loan apps has spread widely over the past few years. Due to this, many people became victims of this scam. There were constant complaints about these fraudulent loan apps. In these complaints, it was said that the scammers were charging people exorbitant interest, loans were being given to people on fake documents. Later scammers were harassing people in the name of repaying these loans. Following this, complaints of data theft, psychological harassment, threats and extortion to the police across the country began to rise. Taking all these complaints seriously, the government ordered to ban 87 fraudulent loan apps. (Photo Courtesy – Pinterest)

There have been complaints of blackmailing users

According to the government, these unauthorized loan apps were tempting people to give small loans instantly and then inflate the loan amount by increasing the interest. There were also incidents where users were blackmailed by stealing their personal information like contact numbers, photos and identity card data. The government has taken this action under IT Act and Companies Act. The minister has said that whenever any violation is found under the Companies Act, 2013, legal action is taken against the concerned companies.

The main objective is to increase digital security

The main objective of the government behind this action is to increase digital security. After this action taken by the government, now new users will not be able to download these apps. Millions of Indians, especially youths, students, housewives and small businessmen were downloading these apps in the lure of instant loans. Following this decision by the government, online scams, psychological harassment and financial losses associated with them are likely to decrease.

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What should users do?

While downloading any loan app first check the RBI listing of that app. Download apps which are Verified NBFC or Bank related apps. Do not grant unnecessary photo, contact and microphone permissions to the app.