Saturday, July 13, 2024
HomeजानकारीAfter Chinese-linked loan apps, MeitY bans India’s Kissht and LazyPay

After Chinese-linked loan apps, MeitY bans India’s Kissht and LazyPay


The Indian government’s scrutiny of Chinese-linked apps has now affected homegrown companies. Loan apps PayU’s LazyPay and Kissht have been blocked following a notice from the Ministry of Electronics and Information Technology (MeitY).

However, sources suggest that the two apps may have been blocked due to confusion, a situation that has occurred in the past.

“When MeitY previously restricted Chinese loan apps, the bank accounts of Kissht and LazyPay were frozen. Their banking services were restored after they clarified to authorities that they had no links to China,” said one anonymous source.

Although some users can still download both mobile apps on Android, their websites display error messages even after multiple attempts. Entrackr confirmed this through several devices.

“The Kissht app and website are operational for our customers. We are aware that Google has been asked to remove a list of companies from the Play Store, including ours, but we are unsure of the reason for this notification. We will be meeting officials tomorrow to seek clarification,” a Kissht spokesperson said in a statement, adding that the company has no Chinese stakeholders.

The Economic Times first reported the development.

On Sunday, Ministry of Electronics and Information Technology (MeitY) reportedly blocked 138 betting apps and 94 loan apps with links to China, alleging their involvement in money laundering and posing a threat to India’s financial security.

Most short-term loan apps, including Indian ones, employ harsh measures, such as calling the borrower’s family and friends in case of default. This has led to extreme actions in some cases, where borrowers have resorted to suicide. “The government seems to have taken note of these harsh tactics and banned Kissht and LazyPay,” said another industry source who also requested anonymity.

Keep visiting The Mithila Times for such beautiful articles. Follow us on FacebookTwitterInstagram, and Google News for regular updates.

प्रणव कुमार
प्रणव कुमार
"प्रणव कुमार डिजिटल मीडिया में 6 साल के अनुभव के साथ एक कुशल कंटेंट क्रिएटर हैं। प्रणव कुमार को एजुकेशन और ट्रेवल सेक्शन संभालने का अनुभव है। पाठकों को जानकारीपूर्ण और आकर्षक कंटेंट प्रदान करने में उनकी दिलचस्पी है। पिछले कुछ वर्षों से प्रणव विशेष रूप से एजुकेशन सेक्शन और ट्रेवल के लिए काम कर रहे हैं। वे अपने पाठकों को अच्छा कंटेंट और ताजा अपडेट्स देने के लिए प्रयासरत रहते हैं। प्रणव कुमार को अपने पेशेवर करियर के अलावा पढ़ने, लिखने और यात्रा करने का शौक है। वह अक्सर अपना खाली समय किताबें पढ़ने और नई जगहों को एक्सप्लोर करने में बिताते हैं।

Most Popular