Saturday, February 24, 2024

Beware of loan apps: SP

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Superintendent of Police Malika Garg has asked the people to beware of loan apps.

In a statement here on Sunday, she said that loans should be taken only from the financial institutions which were recognised by the RBI. She said that the private loan app organisers are resorting to harassment for collecting loan amounts.

The SP said that some loan app organisers attract people including traders and students offering loans easily without lengthy process. “Do not take loans through a loan app without going through the terms and conditions of the organizers thoroughly. After extending the loan, the app organizers forcibly collect money from the borrowers.

“Many loan apps claim that they provide easy and immediate loans, attracting some people, students and businessmen. The borrowers should understand the terms and conditions of the app before taking loans. The loan app organizers forcibly collect unreasonable charges,” the SP said.

People especially the students and women should be careful and they should not get attracted to these online and instant loan apps. They should not give their contacts, media, gallery, cameras while installing unauthorized loan apps. SP Malika Garg asked people to take loans only by personally attending banks and non-banking financial companies.

If any representative of the loan speaks obscenely, harasses and threatens the borrowers, they should call the police or cyber help line number 1930 or visit the National Cyber Crime Reporting Portal www, the SP said and advised to file a complaint on

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