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Cong leader Satyajeet Tambe writes to RBI governor, seeks action against rampant online loan scams
Congress leader Satyajeet Tambe has written to the Reserve Bank of India (RBI) governor Shaktikanta Das drawing his attention to the rampant malpractices through online instant loan provider applications
Congress leader Satyajeet Tambe has written to the Reserve Bank of India (RBI) governor Shaktikanta Das drawing his attention to the rampant malpractices through online instant loan provider applications. The letter was written on June 17.
He has urged the governor to intervene in the matter. The Maharashtra cyber crime cell, has received at least 1,900 complaints related to online loan applications since 2020.
Tabe said, the phenomenon is the latest menace online. “Even a committee constituted by RBI has found that more than half of the 1,100 applications available on devices are illegal. These 1,100 digital loan apps are available in at least 80 app stores. As per the RBI report, the maximum number of complaints have been filed in Maharashtra, followed by Karnataka, Delhi, Haryana, Telangana, Andhra Pradesh, and Uttar Pradesh among others,” said Tambe.
Tambe in his letter further said, “Most private lenders lure customers by offering huge loan amounts, collect the least number of documents and disburse the loan in no time. People in urgent need of money take loans with the high-interest rates and end up facing harassment.”
Tambe further stated that the borrowers are spammed with calls, abused on calls, and harass people from their contact list. “They often cause irreversible harm with their shaming tactics and the borrower finds it difficult to even face the society,” he added.
