After noticing fishy loan apps prominent on the Play Store platform, Google India has been notified to incorporate tighter safeguard policies to bar such activities. Said apps are providing loans of 8-9 days, which are associated with Chinese links. A meeting with Google representatives, alongside Mumbai police, was held to discuss tightening procedure, in order to get rid of their loopholes. Along with other rules, RBI has logged a rule of firing apps below a loan period of 62 days. Google, having let go of 2000 persona loan apps, will incorporate these rules on September 15th.
