In recent times, Google has taken tough action against developers who violate its policies. Last year he removed the popular e-commerce payment system, Paytm from his store for a short time. Recently, the Indian government and the Reserve Bank of India have started to review various money lending applications. For those who don’t know, these apps allow users to borrow small amounts of money which they can use directly from e-commerce sites or transfer to their bank account, at interest rates and fees. exorbitant fees, which leads many users to fall into a debt trap and ultimately commit suicide. A number of users and government agencies have raised flags against these apps. Google is now taking tough action against such apps.
Google Removes Money Lending Apps That Violate User Rules
According to the Department of Electronics and Information Technology (MeitY), Google has removed 100 instant loan apps from the Play Store. These apps had critical privacy concerns, including the alleged collection and misuse of personal data. Along with this, it is also reported that the apps have used illegal practices for loan collection. These include physically threatening users and using other illicit methods.
The Ministry of Informatics further states in the Lok Sabha that Google has been informed that these applications do not comply with the applicable legal and regulatory framework. As a result, Google has removed 100 of these apps from December 2020 to January 20, 2021. The ministry adds that it has received a number of complaints from the public regarding these apps.
This is not the first time that Google has removed money lending apps from the Play Store. He had taken similar steps earlier this year when he banned four applications -10MinuteLoan, Ex-Money, Extra Mudra and StuCred. StuCred was then restored after changing its loan repayment policy. For now, Google has decided to only allow apps that allow loan repayment in 60 days or more. Processing fees are also under scrutiny. As for the remaining apps, Google has asked them to comply with the laws and regulations of the country where they will not be allowed to function as well.