Google Bans Personal Loan Apps from Play Store; Over 2000 Apps Removed
In an effort to crack down on fraudulent loan apps, Google has banned personal loan apps from its Play Store. From May 31, access to loan apps that have not complied with Google’s new rules will be restricted. The tech giant has taken this step after some loan apps were accused of making false claims to customers and using illegal means to recover loans.
Here are some of the key points:
– Google has modified its rules for personal lending apps, which are accused of stealing personal information of users and using it for loan recovery purposes.
– Loan apps that offer direct loan offers, as well as lead generators that connect customers to third-party lenders, will be affected by this ban.
– Google has also removed over 2000 apps that violated Play Store regulations, with the Indian Reserve Bank being consulted in this matter.
– In India, no app is authorized to offer personal loans without a license from the Reserve Bank of India.
– Users should be wary of third-party apps that offer loan services and avoid downloading them unnecessarily.
Google’s new policy will come into effect on May 31, and any app that fails to comply with the rules will be blocked. With this step, Google hopes to protect its users from fraudulent loan apps and prevent them from falling victim to scams.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
Something went wrong. Please refresh the page and/or try again.
