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Business & Finance

Reuters exclusively reports some lending apps thrive on Google Play despite violations

Reuters reported exclusively that at least 10 Indian lending apps on Google’s Play Store, which have been downloaded millions of times, breached Google rules on loan repayment lengths aimed at protecting vulnerable borrowers. Four apps were taken down from the Play Store – where the vast majority of Indians download phone apps – after Reuters flagged to Google that they were violating its ban on offering personal loans requiring full repayment in 60 days or less. At least six other apps remain available at the store that offer loan repayment lengths, or tenures, some as low as seven days.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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