Thursday, 5 March, 2026
India's finance minister outlines steps to prevent illegal loans
By Basit Ansari
<p>Nirmala Sitharaman presided over a meeting to discuss the problems with illegal lending apps that operate outside of the normal banking channels and came up with several measures to stop the use of such apps. The meeting's discussion focused on a number of issues, including the rise in unlawful loan applications that offer loans and microcredits as well as predatory debt collection tactics like extortion and criminal intimidation.</p>
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