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Screws tightened on unregulated lending apps
Google has now introduced a new security policy under which loan-giving apps will not be able to access users’ contact numbers, photos/videos, call
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RBI working group recommends new law to end illegal digital lending
Central bank also proposes stringent norms to regulate lending via apps
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India is world’s biggest market for lending apps
At the last count, India has 887 active loans apps, according to a study. The US comes at a distant second with 112 apps
