The dark side of buy now pay later schemes
Buy now pay later schemes is the most instant solution and the coolest way to purchase an essential item, but looking at it closely, it might be a sign of massive interest rates and a debt trap. It is easier than ever to get what you want, when you want it- regardless of how much […]
RBI have imposed strict norms on harassment for debts by recovery agents
A number of recent illegal harassment for debts practices have come to the news and are spreading like wildfire. Thus, many people are facing miserable lives by going into severe depression or by committing suicide. This matter has been deemed as a serious matter by the Reserve Bank of India (RBI). This is because people […]
Vishing calls- How do Indians deal with spam calls?
Vishing calls- How Indian deals with spam calls Over the last decade, smartphones have become an extension of the physical body. The convenience of getting a service delivered with a few simple taps on the screen makes it appealing even for naive users to fully adopt the digital lifestyle, enabling them to become cashless. UPI […]
Importance of a Debt Management Plan
With debt management programs, it is easy for someone who is in debt to repay it. The importance of debt management plan can be a lifesaver for those who are deeply stuck in a debt trap. Debt management plans- also called DMP, Debt Solution Plan or debt counselling- are now-a-days booming in the market as […]
Indians facing extortion and data misuse in droves by illegal loan lenders!
Indians facing extortion and data misuse in droves by illegal loan lenders! Indians are more likely to adapt things that are readily available. We understand the need for money when consumers are stuck in a huge façade of financial crisis. Instant money, or as we like to call it, ‘LOAN SHARKS,’ is a way of […]
Loan app scam: New way to fool people this festivities
With the upcoming celebration of Ganesh Chaturthi in Mumbai and other parts of the country, it is getting excited and thrilled. However, there is still a haunt of loan app scam fooling people into taking loans from illegal apps for the celebration of Ganesh Chaturthi. Recently, a news story was highlighted like any other. A […]
The Chinese loan lending app: defrauding borrower’s financial data?
An instant loan app can seem like an easy solution when you urgently need money. But not every lending app is legitimate. Some unauthorised loan apps may collect excessive personal information, impose unclear charges and use aggressive recovery practices. The Reserve Bank of India (RBI) has created a public repository of Digital Lending Apps (DLAs) […]
Illegal loan apps rackets: Mumbai police seized 211 SIM cards & 39 phones
Recently, it has come to light that many illegal loan apps are operating too many cyber rackets and fooling people by giving them high value instant loans. As a result, they are being harassed by these criminals for the repayment of loan with heavy interest rates. Mumbai police busted an illegal loan app racket recently, […]
Illegal loan apps lending are blamed for suicides in India
During the COVID19 pandemic, the digital revolution in India led to the emergence of financial requirements which increased the demand for loans. With an increase in lending money from illegal loan apps to gullible people, there have been some serious matters, such as suicides and even job losses due to illegal loan apps harassment. Recently, […]
Illegal loan app goons making harassment calls
Digital loans can provide quick access to money, but borrowing through an unauthorised app can expose you to harassment, misuse of personal data and coercive recovery tactics. RBI has strengthened safeguards around digital lending, including borrower-data protection and recovery practices. The scale of the problem is significant. In its 2024–25 Annual Report, the RBI noted […]
