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Government clamps down on fraudulent loan apps, taking loans from them is dangerous
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Center said- social media platforms should not advertise fraudulent loan apps
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Now there will be a ban on ads of fraudulent loan apps, strict action will be taken on digital platforms
Ministry of Information and Technology instructions to Social Media platforms banned advertising of fake loan giving apps – Minister of State for IT Rajiv Chandrashekhar has said that the government has instructed social media and online forums not to place advertisements of fake loan giving apps on the platforms. . The IT Ministry has clearly told these platforms that they cannot advertise illegal and fraudulent loan distribution apps.
These advertisements are misleading and exploit people using the internet. Speaking at an event, Chandrashekhar said that one of the areas where we are now cracking down is the advertisements of fraudulent loan apps, which are running on many platforms.
Concerns about online platforms providing instant loans are continuously increasing. These fake and illegal apps provide loans of small amounts at very high rates to people who are in need of loans. Then to recover their money, they also try methods like threatening and blackmailing the borrowers. Advertisements for such apps are also seen openly on online forums. Now the responsibility of online forums will be decided.
Chandrashekhar said that the IT Ministry has made it clear to the platforms that they cannot advertise fraudulent loan apps, as these advertisements are misleading and harm the people using the internet. Chandrashekhar said that one of the areas we are now cracking down on is the advertisements of fraudulent loan apps, which are running on many platforms. We have made it clear through the advisory that no intermediary can advertise fraudulent loan apps.
The Minister of State for Electronics and IT said that because this app will be misleading and will exploit the people who are using the internet. He also pointed out that the jurisprudence and government’s view on secure and reliable internet is evolving and the IT rules clearly specify 11 areas of prohibited content.