India has banned over 230 loan-providing apps in the region today. Some of these apps have a direct relation with China.
The Ministry of Electronics and Information Technology is to ban 138 betting and 94 other unauthorized loan-providing apps. They are forbidden to protect the country’s integrity and protect the land.
The home of the ministry office said,
“The apps sought to mislead customers into taking big debts without realizing the terms, and there were concerns that they could be used as tools for espionage and propaganda.”
Last year, India introduced new rules about digital loan providers. There are 2 significant rules to them. The first rule is that the company cannot increase the loan limit without users’ permission. The other one was that the apps couldn’t use the users’ private data without their consent.
With the evidence of 2023, India has blocked about 300 apps directly or indirectly linked to China. TikTok and ByteDance are an example of these apps.
— TechCrunch (@TechCrunch) February 5, 2023