Google Banned 2,000 Loan Apps From India Play Store

In India, there are a huge amount of online loan applications. One after the other loan apps are coming in the market. People are also becoming victims of these loan apps. The business of instant loans in India has been booming for the last two years, but now the loan apps are getting ready to be reined in.

Google said in its second edition held in New Delhi on December 25 that all types of loan apps will be banned in India. Any such instant loan apps will not be allowed to be published on Google Play Store which does not comply with Reserve Bank of India norms. Giving information, Google said that so far it has banned 2,000 instant personal loan mobile apps on its platform. These apps were working against the rules and playing with the privacy of the users. Google India has also announced a partnership with the Ministry of Electronics and Information Technology for online payment safety. It has also partnered with leading banks and telecom companies in India to create awareness among users against digital frauds.

Saikat Mitra, senior director and head of trust and safety for Google Asia Pacific, said in a press conference at the company's annual "Safer with Google" event: “We have removed 2,000-plus loan apps from India Play Store from January till now.” He said that the crackdown was the result of tips and information gathered, policy violations, a lack of disclosures, and false information.