12-12-2022 Mon 19:25
Vijay Sai Reddy, a YSRCP Rajya Sabha member, brought up the issue of rapid loan app scam carried out by Chinese businesses in India.
On Monday, Vijay Sai Reddy addressed the Rajya Sabha’s members, saying, “The instant loan app threatens to disclose sensitive information and the government should take note of this as the majority of the applications are controlled by Chinese corporations.
According to him, the companies were functioning out of China and were also carrying out their operations without the RBI’s consent. The police had only detained Indian operatives, he claimed.
The YSRCP MP has personally requested the competent minister to intervene and impose a ban on such Apps after revealing numerous instances of harassment via lending apps in Andhra Pradesh. Additionally, he has requested for the creation of rigorous laws and regulations regarding the protection of phone data as well as the demand to punish the promoters and developers.
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