Centre to Ban Over 200 Money Lending and Betting Apps with Chinese Links
NEW DELHI: In a major crack down, the Electronics and IT Ministry initiated the process of a ban and block on 138 betting apps and loan lending apps with Chinese links on an ‘urgent ‘ and ’emergency’ basis. It is learnt that the IT head took the decision based on the recommendations of the ministry of home affairs.
As per sources, the MHA recommended the MeitY this week to ban and block these apps, and the ministry subsequently initiated the process as per communication.
The move was taken after confirming that these apps attract Section 69 of the IT Act as they contain material which is prejudicial to sovereignty and integrity of India. According to sources, these apps are the brainchild of Chinese nationals who hired Indians and made them directors in operation.
As per inputs, desperate individuals are lured into taking on a loan and then jacked up the interest by up to 3,000 per cent annually.
The matter came to the notice of the govt when the debators were threatened on being unable to repay the interest let alone the prinicpal lended. They sent them lewd messages, threatening to release their morphed photos and shaming them with messages to their contacts.
The matter came into the spotlight after a spate of suicides, particularly in Andhra Pradesh and Telangana, by those who opted for such loans or lost money to betting apps.