Reserve Bank of India Governor Shaktikanta Das on Thursday said the central bank has shared a whitelist of lending apps with the Centre. The Union IT Ministry is expected to soon take action against illegal loan apps that are not on the list, The Indian Express has learnt.
In a two-part investigation published on November 20-21, The Indian Express had reported how dubious loan apps advertise on Instagram and Facebook, and, despite whatever filters the platforms claim to use, many such apps, including those red-flagged by the government, continue to offer their services. It had also reported that the RBI initially did not have a whitelist of registered loan apps, or even a negative list which is updated.
“But, the problem is with illegal lending apps. We have already shared a list with the government. Whenever we come across any further problem, we give it to the government and there is active engagement between the RBI and concerned ministries of the government and law enforcement agencies. Coordination meetings are held regularly between these agencies to take appropriate measures against illegal lending apps,” Das said.
