RBI cautions against loans given on apps

MUMBAI: Following cases of suicide over alleged harassment by recovery agents of entities that provided loan over mobile apps, the RBI has cautioned against such loans and has asked aggrieved NBFC borrowers to file complaints on its portal. “There have been reports about individuals/small businesses falling prey to growing number of unauthorised digital lending platforms/mobile apps on promises of getting loans in quick and hassle-free manner.

Link: RBI cautions against loans given on apps
via timesofindia.indiatimes.com

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