Instant loans using goggle play apps from china - how to gain from them if you have availed a loan
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I have read about the Instant loans using goggle play apps. See the links below.
The interesting thing is, most apps are from China linked apps. They do not have any RBI permissions to issue loans.
Usually RBI gives permissions to Banks and NBFCs. Some genuine apps are tie-up with banks/nbfcs to issue loans.
However, some are not having tie-ups with banks.
If you have already availed a loan and find out that the app doesn’t have tie up with bank/nbfc, simply don’t pay and ignore the calls and their threatens from their employees. If it is too much, complain to RBI and police.
Those apps have been disabled by google play since they fetch the contacts and photos from the phones.
For reference
https://www.medianama.com/2020/11/223-google-pu...
medianama.com/2020/11/223-google-pulls-unauthorised-lending-apps-from-play-store/
https://www.thenewsminute.com/article/they-call...
thenewsminute.com/article/they-called-all-my-contacts-instant-loan-apps-accused-harassing-customers-125751
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Has any one utilized these kind of loans ? If so, was there any cibil entry.
According to me, cibil is for loan providing entities which are registered with RBI.
bookmarking this topic.
too many loose ends in the new ever changing dynamics of the digitally supported financial world and trade in general!