Ahead of ban order, RBI gave a list of apps working with NBFCs to govt
Earlier this week, the Ministry of Electronics and Information Technology banned 94 loan apps, which included entities not connected to China as well. It included some apps involved in what reports described as predatory lending with unfair terms, which led to a debt trap for the borrowers.
The list of banned apps include 'Buy Now Pay Later' (BNPL) apps such as LazyPay and Kissht, Pic- Pixabay