list of money lending apps in india

List of money lending apps banned in India

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Centre bans 138 betting apps and 94 loan lending apps with Chinese links

money lending apps banned in india

Around 230 Chinese apps, including 138 betting apps and 94 money lending apps banned in India, due to concerns about their financial security and potential for money laundering. The ban was imposed under the Information Technology (IT) Act, 2000 and came in response to complaints of extortion and harassment against users of these apps. People who took out loans from these apps have been subject to high interest rates, threats, and harassment, leading to a number of suicides.

The banned apps were operated from offshore entities, including Chinese ones, and reportedly recruited Indian nationals as operational directors. The decision was made after a government examination of 28 Chinese money lending apps and investigations into their links to financial security and potential for money laundering.

The ban has resulted in these apps becoming inaccessible on mobile devices, though sources suggest that independent links or websites may still be used to download betting apps and games. The Ministry of Information and Broadcasting has warned that advertising these betting platforms and their substitutes is illegal under the Consumer Protection Act of 2019, the Cable TV Network Regulation Act of 1995, and the IT Rules of 2021.

This is not the first time the Indian government has taken action against Chinese apps. In 2020, 54 apps were banned due to security risks, while 47 more were restricted on August 10, 2020 and 43 were blocked on November 19, 2020. Many of the top 20 free apps in India in the first half of 2020 were developed by major Chinese tech companies, including TikTok, Helo, PUBG, UC Browser, and VMate, however these apps are no longer available on the download charts since the ban.

List

  • Cash advance app
  • Cash fish app
  • Cash light app
  • Cash ray app
  • Cash room app
  • Cash tree app
  • CB loan app
  • Store Loan
  • Cash host
  • Goldcash
  • Matero Finance
  • Easy credit
  • Mobile cash
  • Money tree
  • Rupee smart
  • Zo zo Cash
  • Cash Park
  • Unit Cash
  • Loan fortune
  • Flash rupee
  • Live Cash
  • Sun cash
  • Income loan
  • Bright Cash
  • Sunny loan
  • Royal cash
  • Marvel cash
  • Magic money
  • Sharp corn
  • Mobikquick

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