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ILLEGAL LOAN PRACTICES
Court rejects CBI's plea seeking amendment of charges against DHFL's ex-CMD, othersA Delhi court has refused to change charges against Kapil Wadhawan, Dheeraj Wadhawan, and Ajay Nawandar. They are accused of defrauding a c...- US may test a military heat ray at the Mexico border. How the ‘pain beam’ works and why it raises questionsThe Pentagon has authorized a temporary transfer of the Active Denial System to the Department of Homeland Security. This technology, known...
- Wife living in London gives POA to family friend to manage his Vadodara property, friend gifts it to son and daughter-in-law; husband files case and wins in Gujarat HCMr Purshotam Ranchhodbhai Pankhania and his late wife living in London trusted their friend and gave him the POA to manage their India prop...
- 460,000 student loan borrowers to be kicked off from repayment plan? Know the big changes from August 1Under President Trump, the dismantling of the Education Department is causing turmoil for student loan borrowers. Nearly half a million app...
- Karnataka: Officials panel to vet MFI Ordinance draft to strengthen proposed lawA high-level meeting led by Chief Minister Siddaramaiah has decided to form a group of senior finance and law officers to review a draft Or...
- Consumer panel directs IDFC Bank to pay Rs 1 lakh to man for deducting EMI for loan he didn't availA consumer commission in Mumbai has instructed IDFC Bank to compensate a resident of Navi Mumbai with Rs 1 lakh. The bank wrongly deducted ...
- NCLT dismisses lawsuit demanding probe into affairs of Indiabulls Housing FinanceSupertech Realtors alleged that Indiabulls Housing Finance had illegally deducted excess sums of money from its loan account. In its lawsui...
- Zerodha's Nithin Kamath warns against shady loan apps, sheds light on key red flagsNithin Kamath, the founder of Zerodha, has issued a stark warning about the alarming rise of predatory digital lending apps.
- Chase India report proposes self-regulatory organisation for digital lending industryThe report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the prac...
- MHA wants 100+ apps linked to China, Philippines blockedThe Indian Cyber Crime Coordination Centre (I4C), in the past, has sought a ban on as many as 500 apps that were sending data of Indians to...
- Illegal digital lending apps driving citizens to suicide, says Ministry of Home AffairsThe ministry has noted that "many of these illegal lending apps may not be regulated entities by RBI and are using bulk SMS, digital advert...
- Home Ministry asks states, UTs to take urgent action against predatory Chinese lending appsIt said a large number of complaints have been reported across India related to illegal digital lending apps that provide short-term loans ...
- Google faces pressure from government to help curb illegal lending apps: reportEven though Google doesn't fall under the Reserve Bank of India's (RBI) ambit, the US tech giant has been called several times in the last ...
- Reserve Bank of India to prepare "whitelist" as government cracks down on illegal loan appsThis comes after Finance Minister Nirmala Sitharaman on Thursday held detailed deliberations in respect with legal, procedural & technical ...
- India to prepare a 'whitelist' of digital lending appsThe central bank has been asked to prepare a list of legal digital lending apps while the government will help ensure that only such apps c...
- RBI to issue whitelist of all legal loan apps, app stores can host only theseFinance Minister Nirmala Sitharaman asked the Reserve Bank of India (RBI) to prepare a list of all the legal loan applications
- India's finance minister Nirmala Sitharaman outlines steps to ward off illegal loan appsThe points of concern during the meeting included increasing instances of illegal loan apps offering loans/micro credits, especially to vul...
- RBI cracks down on strong-arm tactics employed by recovery agents“In view of concerns arising from the activities of these agents, it is advised that the regulator entities shall strictly ensure that they...
- What to do if loan recovery agent bothers you?Agents bothering for loan recovery might seem to be a small issue but there are cases where people have committed suicide or suffered menta...
- Kerala to regulate operations of non-banking financial companies, Chit funds"The government has plans to approach the Reserve Bank governor seeking more control over their functioning," Ramesh Chennithala said.
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