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9mo ago

India Confirms 87 Illegal Loan Apps Blocked Under IT Act

Parliament was told the blocks form part of a broader crackdown using IT Act powers plus ongoing corporate inspections.

The government said that inspections and compliance checks are ongoing and monitored regularly. (Representational image)

Overview

  • Minister of State Harsh Malhotra informed the Lok Sabha that MeitY has blocked access to 87 illicit digital lending apps after due process under Section 69A of the IT Act.
  • The Ministry of Corporate Affairs said inquiries, inspections and investigations under the Companies Act continue against online lending firms, with legal action taken when violations are found.
  • The government did not disclose further details on the status or targets of ongoing probes into lending-app operators.
  • The RBI has directed regulated entities to list their lending apps on its CIMS portal by June 15, 2025 to improve transparency and help users verify legitimate platforms.
  • Earlier actions include MCA probes into hundreds of suspected Chinese-linked apps and ED arrests of two Chinese nationals in 2024 over schemes tied to exorbitant fees, data abuse and coercive recovery practices.