India, July 21 -- The Government of India has issued a release:
The Government has been constantly engaging with the Reserve Bank of India (RBI) and other concerned Regulators/stakeholders to curb the operations of fake/illegal loan apps in the country. For public information, RBI has operationalized a directory 'Digital Lending Apps (DLAs)' on its website with effect from 01.07.2025, including DLAs engaged by Regulated Entities (REs) of RBI. The directory aims to aid the customers in verifying the claim of a DLA's association with a RE.
Ministry of Electronics and Information Technology (MeitY) has so far blocked a total of 87 illegal loan lending applications under section 69A of the Information Technology Act 2000 after following the due process. Additionally, sectoral regulators have been authorised to issue directions for blocking of information for public access under the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2025, notified on 22.10.2025
Further, the Government and RBI have been taking up various initiatives from time to time to protect citizens from exploitation by fake/illegal loan apps. These inter-alia, includes:
This information was given by the Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.
Disclaimer: Curated by HT Syndication.
