Instant loan

Instant loan application case: Chinese man arrested at Delhi airport

Hyderabad police have arrested a Chinese national at Delhi International Airport as part of their investigation into illegally operating instant loan applications. Zhu Wei, from Jiangxi, China, was arrested as he tried to leave the country on Wednesday. He is the third Chinese national arrested by Telangana police in this case. A statement by co-commissioner […]

Instant loan

Explained: What is the case with instant loan applications? How were the victims attracted?

An employee of the Telangana Department of Agriculture and a software engineer committed suicide last week after being humiliated and blackmailed by callers and recovery agents from an instant mobile app loan company. Their personal data was posted by the company on social media and labeled them as failing and used abusive language. What is […]

Instant loan

Bengaluru: Another instant loan application company raided, 3 detained | Bangalore News

BENGALURU: Central Crime Branch (CCB) detectives investigating allegations of extortion and blackmail carried out by companies promising instant loans via mobile apps arrested three employees of one of these companies in the city and recovered incriminating elements, including 35 laptops and 218 mobile phones. A preliminary investigation found that the apps were run by Chinese […]

Instant loan

Instant loan applications: another suicide in Telangana for repayment harassment

A 36-year-old man, who attempted suicide for alleged harassment by microcredit application companies, died five days later while undergoing treatment in Visakhapatnam, Andhra Pradesh, police said . He died on the evening of December 23 at King George Hospital. Following a complaint from his friend, the NTPC Police Station in Ramagundam in Telangana has now […]

Instant loan

Instant loan app scam: don’t fall prey to unauthorized mobile apps, warns RBI

Consumers should never share copies of KYC documents with unidentified, unverified / unauthorized applications, RBI said. Hindustan Times, New Delhi | By hindustantimes.com | Edited by Poulomi Ghosh The Reserve Bank of India has warned against loans offered by unauthorized digital platforms, with mobile apps promising a quick and hassle-free process. The warning comes amid […]