Dasoju : Take action on illegal loan apps

All India Congress Committee (AICC) national spokesperson Dasoju Sravan demanded immediate action against loan apps to save innocent people from immoral and criminal activities of the apps. He said a few borrowers including women committed suicides, unable bear the harassment by the loan apps operators.

Dasoju Sravan on Wednesday wrote an open letter to Chief Minister K. Chandrashekar Rao urging immediate action against illegal and criminal loan apps. He said a special task force should be set up to crack down on all online loan apps and introduce robust cyber security firewalls to prevent unlawful penetration of these loan apps.

He suggested setting up of a separate cybercrime police team with a toll free number and exclusive email ID to address this issue as crimes and complaints relating to online loan apps and create an interstate investigative team, with police from other states as members, as many online apps operated from across India. Only those online loan apps, which had a valid NBFC registration and RBI approval should be hosted on Google Play Store, Apple Store and other app hosting platforms, he said.

He also urged the government to bring in a policy to ensure that public and private sector banks mandatorily give loans to small, medium and micro enterprises, middle class salaried professionals, needy from the lower income groups like roadside vendors, hawkers, street vendors, and new entrepreneurs to save them from the clutches of unscrupulous online loan apps and money lenders.