The Indian government has instructed social media and online platforms to refrain from hosting advertisements of fraudulent loan apps, according to Union Minister Rajeev Chandrasekhar. The Ministry of Electronics and Information Technology has emphasized that these platforms should not promote misleading loan apps that exploit internet users. Chandrasekhar stated that the government is cracking down on such advertisements and has issued an advisory to intermediaries, highlighting the prohibition of fraudulent loan app ads. He further noted that the government’s approach to ensuring a safe and trustworthy internet is continuously evolving, with IT rules clearly outlining 11 categories of prohibited content. This directive aims to protect users from falling victim to scams and deception in the online lending space.
The government has recently issued a directive to digital platforms, instructing them to refrain from displaying advertisements of fraudulent loan apps. This decision has been made to protect consumers from falling victim to scams and fraudulent activities prevalent in the digital lending space. By preventing these platforms from promoting such apps, the government aims to safeguard the interests of individuals seeking loans online. This initiative will contribute towards creating a safer and more secure environment for digital lending in the country.
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Govt orders digital platforms to ban ads of fraudulent loan apps.
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