The Congress on Tuesday questioned the Centre’s silence on the Chinese fraud loan app, which has claimed the lives of 52 youths and duped of Rs 500 crore through hawala. Addressing the press conference, party spokesperson Gaurav Vallabh said that it has been two years since the news of Chinese loan app duping lakhs of Indians as part of a conspiracy to fall into the debt trap.
He said, “An investigation conducted between January and February 2021 found that there are more than 1,100 digital loan apps available on the Play Store. RBI has admitted that at least 600 such apps were operating illegally. According to RBI, there has been a 12-fold jump in lending on digital platforms between 2017 and 2020. So far in our country 52 people have committed suicide due to blackmailing by these loan apps.