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Reserve Bank of India

Fake Loan Apps Thrive As Authorities Fail To Crackdown, Leaving Consumers Vulnerable

In a concerning trend that has caught the attention of consumer advocates and regulatory bodies alike, illegal loan apps have managed to thrive, exploiting unsuspecting consumers while authorities struggle to effectively clamp down on their operations. This investigative news report delves into the disturbing world of these unscrupulous entities, shedding light on how they continue to operate with impunity, leaving countless individuals vulnerable to their deceptive practices. Despite growing concerns and mounting evidence of their exploitative tactics, the lack of effective enforcement measures has allowed these rogue loan apps to flourish, posing a significant threat to consumers' well-being.