Immediately ban illegal Chinese loan apps: Congress

New Delhi: The Congress asked the Centre to immediately ban illegal Chinese loan apps, which the opposition party said are mushrooming and duping "lakhs of Indian youths", causing major economic and social consequences including many victims committing suicide.

Asking why the government has not acted against these apps yet, the All India Congress Committee said the Reserve Bank of India has already said at least 600 such apps are operating illegally.

"It has been two years since the news of Chinese loan apps duping lakhs of Indian youths... An investigation between January and February 2021 found more than 1,100 digital loans apps are available across Play Store," Congress spokesman Gaurav Vallabh said on Tuesday. "The Reserve Bank of India accepted that at least 600 such apps are operating illegally...Till now 52 individuals in our country have committed suicide due to blackmailing by these loan apps."


The Congress spokesman further said, "How can the government be a mute spectator? In the process it is also giving away data of our citizens on a platter. The government should immediately ban these apps."

Vallabh said such apps have mushroomed since Covid-19 struck in 2020. "The Modi government has weakened the Indian economy, pushing millions into poverty. This is one of the main reasons why the lower and middle income groups are forced to resort to such debt propositions," he said.