Finance Minister Nirmala Sitharaman said in Rajya Sabha that the government departments and the Reserve Bank of India (RBI) are taking coordinated steps to check Chinese mobile apps offering easy loans and cheating people. The minister also said action has been taken against these apps.
She said, “A lot of apps that have been badly misused have also been brought to the attention of MeiTY. So there is a coordinated effort to contain such apps. And also to take action against those who are misusing. We have taken concentrated efforts. RBI, MeiTY, MCA and Ministry of Finance are working to ensure the common man is not cheated by any apps.”
The minister said she had held several meetings with representatives of the central bank, her ministry officials and the Ministry of Corporate Affairs (MCA) on the issue of Chinese loan apps harassing and cheating people in the last 6-7 months.
TMC’s Nadimul Haque raised the issue of illegal Chinese apps and said some 600 apps offer small loans without much paperwork and thereafter harass borrowers for recovery. He said the apps gain access to private information on phones including contact lists, photos and videos and use them to blackmail borrowers.
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