Operation Hafta Vasooli - ZeeBiz campaign impact gets stronger; As RBI crackdown on lending apps gets tougher, know what Anil Singhvi said
The campaign started by Zee Business and Managing Editor Anil Singhvi against unfair lending practices by digital lending platforms has increased its impact. The Reserve Bank of India's (RBI) attention has come into the equation and the crackdown has led to tough new steps being taken. The Zee Business campaign was launched to protect innocent borrowers who were being harassed and even abused
The campaign started by Zee Business and Managing Editor Anil Singhvi against unfair lending practices by digital lending platforms has increased its impact. The Reserve Bank of India's (RBI) attention has come into the equation and the crackdown has led to tough new steps being taken. The Zee Business campaign was launched to protect innocent borrowers who were being harassed and even abused. Due to the impact of this campaign that was highlighted by the Market Guru, the banking regulator has now set up a committee which will deliberate on regulating this sector. The Market Guru has lauded RBI for taking this step. This is what he said!
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The Managing Editor said that RBI taking cognisance of this issue followed by quick action is praiseworthy. In his interview with Governor Shaktikanta Das, the latter had assured the channel viewers that the RBI was working on this issue aggressively.
The banking regulator has taken a very prompt action on this issue, Singhvi said.
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He also praised the Telangana and Andhra Pradesh police as they have launched a big crackdown against wrongdoers. Singhvi said they have done a commendable job with regards to this. They have been taking tough and commendable action, he further added.
Many Chinese nationals have been nabbed in connection with these illegal practices. This angle too was exposed by Zee Business.
The people who have suffered at the hands of digital lending apps and mobile apps have been complaining at different forums including registering their displeasure on Zee Business channel. The complaints were being made even to RBI and local police.
However, it was Zee Business channel that actually did something to protect loan takers from predatory digital lending apps.
The Market Guru revealed that Zee Business will keep working on this campaign and said that the channel will even be sending its own set of suggestions on this and has called on the viewers to send the feedback. The viewers can suggest what should be included in the forthcoming guidelines.
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