New Delhi: As illegal loan apps are on the rise in the country, the Center will release a list of legitimate lending apps. This was clarified in a meeting chaired by Finance Minister Nirmala Sitharaman to discuss various issues related to this.
The Reserve Bank of India will prepare a list of legitimate loan apps to curb illegal loan apps, the ministry said. Illegal loan apps charge exorbitant interest rates and associated money laundering.
Nirmala Sitharaman also opined that various problems like tax evasion and misuse of data are increasing. The Union Finance Minister directed that all ministries and agencies should take all possible steps to curb the activities of such illegal loan apps.
