Google India removes money lending applications that violate user policies
Tech giant Google said it has reviewed hundreds of personal loan apps in India and those found to be in violation of a user safety policy have been immediately removed from its Play Store.
The company said in a blog post published on January 14 that the move was based on flags presented by users and government agencies.
The post also said that the company had instructed the remaining applications, which have not been deleted, to comply with the existing standards. Failure to comply with existing laws and regulations will lead to removal from the Play Store.
"Applications that are found to be in violation of our user safety policies were immediately removed from the store, and we have asked the developers of the remaining identified applications to indicate that they comply with applicable local laws and regulations. Have been removed without notice, "Google India said.
"In addition, we will continue to assist law enforcement agencies in their investigation of this issue," the company said.
Google said in its blogpost that all developers on its Play Store agree to the terms of the Google Play Developer Distribution Agreement, which indicates that applications comply with applicable rules and regulations, including generally accepted methods and guidelines.
Google said it wanted to clarify the steps it is taking on a personal loan application, adding that such a platform has received attention recently.
The Reserve Bank of India (RBI) on January 13 announced an internal working group to study digital lending activities to form an appropriate regulatory framework.
The recent rise and popularity of online nding platforms / mobile lending applications ('digital lending') has raised some serious concerns that have far-reaching systemic implications, the central bank said in a statement.
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