Finance minister Nirmala Sitharaman informed Parliament that Google has removed 2,500 apps from the Play Store that offered fraudulent loans. Only apps approved by regulated entities can be hosted on the platform. The government and regulators, such as RBI, are actively working to control fraudulent loan apps. RBI issued digital lending guidelines and shared a whitelist with the government. The Indian Cyber Crime Coordination Centre has flagged certain apps. The government has also blocked funds siphoned off from bank accounts and is considering blocking phones used for frauds.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CTMLtvz
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