Google India to remove personal loan apps in violation of user policies
Date: 2021-01-15   Author: Pankaj Singh  Category: #news

Google India to remove personal loan apps in violation of user policies

  • The tech company conducted a review of several money apps on the Play Store in India, based on user and government flags
  • Warnings were issued to remaining apps to comply with existing safety norms, or face removal

Global tech giant Google has reportedly announced its removal of several personal loan apps from the Play Store in India, owing to their violation of the user safety mandates. This decision was taken on the basis of various flags submitted by government agencies as well as users.

Google India has recently claimed in a statement that it has removed apps that were found to be in violation of the company’s user safety policies. It further stated that the developers of the remaining personal loan apps were instructed to comply with the local laws and regulations applicable, as failure to do so would result in immediate removal from the Play Store sans notice.

The company also stated that it would continue to aid law enforcement agencies in conducting investigations regarding this issue.

Google has apparently revealed that all developers of apps on the Play Store are expected to agree to Google Play Developer Distribution Agreement terms. The agreement specifies that the apps must comply with all applicable laws and rules, including guidelines and generally accepted practices.

Google also provided a clarification for its actions pertaining to the personal loan apps, given that these platforms have gained significant attention in recent times.

In January, the RBI (Reserve Bank of India) introduced an internal working group, focused on studying digital lending activities, with an aim to form a suitable regulatory framework. The central bank has reportedly stated that the recent surge in popularity of mobile lending apps/online lending platforms or “digital lending” has given rise to many serious concerns with potentially widespread systemic effects.

Source Credit:

https://www.moneycontrol.com/news/business/google-removes-some-personal-loan-apps-in-india-from-play-store-6345891.html



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Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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