{"id":19260,"date":"2023-02-11T16:05:31","date_gmt":"2023-02-11T10:35:31","guid":{"rendered":"https:\/\/magicsheds.in\/index.php\/2023\/02\/11\/lazypay-kreditbee-and-more-loan-apps-banned-by-indian-government-report\/"},"modified":"2023-02-11T16:05:31","modified_gmt":"2023-02-11T10:35:31","slug":"lazypay-kreditbee-and-more-loan-apps-banned-by-indian-government-report","status":"publish","type":"post","link":"https:\/\/magicsheds.in\/index.php\/2023\/02\/11\/lazypay-kreditbee-and-more-loan-apps-banned-by-indian-government-report\/","title":{"rendered":"LazyPay, KreditBee, and more loan apps banned by Indian government: Report"},"content":{"rendered":"<div>\n<div class=\"full-w-img\"><noscript><img decoding=\"async\" data-m=\"true\" src=\"https:\/\/www.91-cdn.com\/hub\/wp-content\/uploads\/2023\/02\/gambling-apps-1-1.jpg\"\/><\/noscript><img decoding=\"async\" class=\"lazyload\" data-m=\"true\" data-src=\"https:\/\/www.91-cdn.com\/hub\/wp-content\/uploads\/2023\/02\/gambling-apps-1-1.jpg\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/div>\n<p>The Indian government recently jolted the fintech industry by banning 230 betting and lending apps with alleged Chinese links earlier this week.  Since the ban, there has been an update from the Ministry of Electronics and Information Technology.  Reports suggest that the ban has been lifted on some popular and possibly Indian-origin loan apps.  Some of the biggest names on the list include PayU-owned LazyPay and Kimsht, apart from Indiabulls and Faircent. <\/p>\n<div id=\"truncateDiv\">\n<p>According to a report in Economic Times, LazyPay, Kimsht, indiabullshomeloans.com, buddyloan.com, Faircent.com and Aptoide versions such as KreditBee and mPokket have lifted their bans within days of the initial decision.  This comes as a relief to millions of customers of widely popular apps like LazyPay;  The banning of the Indian lending app had created a stir on social media.  The Economic Times independently confirmed that major ISPs have unblocked these apps and websites.  According to the report, in the coming days more such apps will also be unblocked, which have no alleged link to China.<\/p>\n<\/div>\n<div id=\"otherDiv\">\n<p>\u201cMeitY has received documents from multiple platforms over the past few days and is examining the submissions to ascertain whether the ban was necessary or not.  We have come to the conclusion that some of these platforms do not need to be blocked and hence some of the ban orders are being withdrawn.<\/p>\n<p>Kisht founder Ranveer Singh suggests that the compliant nature of these apps is the reason behind the complete ban being lifted this week.  \u201cThe government has shown incredible support in ensuring that trusted and fully compliant apps like Kisht continue to work towards greater financial inclusion in the country,\u201d Singh said.<\/p>\n<p>To recall, a total of 138 betting apps and 94 lending apps were banned by the Ministry of Electronics and Information Technology, based on the recommendations of the Ministry of Home Affairs (MHA).  This \u2018immediate\u2019 ban was done under Section 69 of the IT Act after several complaints of harassment from common people surfaced online.<\/p>\n<p>Earlier it was reported that some Chinese nationals were duping Indians by luring them to take small loans through an app charging up to 3000 per cent interest.  On non-payment of money, these miscreants used to send obscene messages and objectionable pictures to the contacts present in the victim\u2019s phone.  The action came from the Government of India following several reports of suicides in the states of Andhra Pradesh and Telangana.<\/p>\n<\/div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Indian government recently jolted the fintech industry by banning 230 betting and lending apps with alleged Chinese links earlier this week. Since the ban, there has been an update from the Ministry of Electronics and Information Technology. Reports suggest that the ban has been lifted on some popular and possibly Indian-origin loan apps. Some [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[869,870,179,210,867,866,868,519],"class_list":["post-19260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-apps","tag-banned","tag-government","tag-indian","tag-kreditbee","tag-lazypay","tag-loan","tag-report"],"_links":{"self":[{"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/posts\/19260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/comments?post=19260"}],"version-history":[{"count":0,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/posts\/19260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/media\/19261"}],"wp:attachment":[{"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/media?parent=19260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/categories?post=19260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magicsheds.in\/index.php\/wp-json\/wp\/v2\/tags?post=19260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}