the government has taken major action against fraudulent loan ads and betting apps according to the information received, the government has banned these apps. also, the IT Ministry on Tuesday immediately banned fake loan apps and betting actions. The government has taken a big step to curb fake loan apps. the government has also started banning ads of fake loan apps and betting apps. along with this, the government has asked RBI to prepare a new KYC system.
union IT minister Rajiv Chandrashekhar said that we are trying to prevent fake loan apps. working on stopping ads. for such fake loans as appear on many platforms like Instagram, Facebook, WhatsUp, and YouTube. The Ministry of Electronics and Information Technology has urged RBI to make the KYC process more comprehensive for banks. this proposed KYC process is more compressive for banks. this process KYC is your digital finance app (KYDFA).
government’s new steps.
All internet services providers ( ISPS) and platforms have been the ministry to immediately remove illegal loan apps and betting apps’ action against fraudulent loans.
the government is also focusing on stopping advertisements of fake loan apps. the ministry is working closely with various platforms to stop such advertisements. the new KYDFA proposal will cover all apps and platforms doing digital transactions. traps of fake loan apps to avoid this, it is important for people to be aware. one should stay away from these apps and get proper information before applying for any kind of loan.
the network of fake loan apps has spread a lot. people who become victims of such apps not only get into the mire of debt but in many cases, the victim has even committed suicide.
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