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Digital lending platforms in India have come under greater scrutiny recently for their methods, including the collection and alleged misuse of borrowers’ data, underlining the risks to driving financial inclusion with newer technologies.
MUMBAI (Reuters) - Alphabet Inc's Google has removed some lending apps aimed at consumers in India from Play Store in an attempt to safeguard users, it said in a blog post on Thursday.
MUMBAI (Reuters) - The Reserve Bank of India said on Wednesday it had formed a working group to look into digital lending practices, following reports of policy violations and borrower harassment by several digital lending apps in India.
HONG KONG (Reuters) - China plans to push tech giants including Ant Group, Tencent and JD.com to share consumer loan data to prevent excess borrowing and fraud, two people with knowledge of the matter said, in Beijing's latest tightening of scrutiny.
MUMBAI (Reuters) - At least 10 Indian lending apps on Google's Play Store, which have been downloaded millions of times, breached Google rules on loan repayment lengths aimed at protecting vulnerable borrowers, according to a Reuters review of such services and more than a dozen users.
Direct Lending helps make financing simple, safe and affordable to working adults.
JPDP said the six apps have been found to have accessed and copied its users information, including personal data that are not related to the loan application, without their permission.
Wondering what to do online during CMCO? Here are five possible things.
It sounds like a surefire bet. You lend money to a borrower who puts up collateral that exceeds the size of the loan, and then you earn interest of about 20%. What could possibly go wrong?
Bank of Kyoto, a regional lender based in the ancient Japanese city, has a unique buffer against the hit to tourism from the coronavirus – dividends from local high-tech heavyweights.