29 November 2022

Agra : A teacher in Aligarh approached the police recently after being allegedly blackmailed by an executive of a ” Chinese loan – pro viding app “. He was told to pay an extra Rs 60,000 on taking a loan of Rs 4,000. He alleged that he was also threatened.

According to the police, such loan firms secure contact numbers from the applicant’s phone during the application process via the app link.

Chinese loan - providing app
Chinese loan – providing app

” Due to fear of disclosing financial conditions, the app user pays extra money and the app would extort even more, ” a cop said on Friday. Another victim, on condition of anonymity, said, ” I had taken a Rs 2,000 loan through a Chinese app and ended up paying Rs 4,000.

” Scores of Chinese apps are available in India that can give you a loan in minutes after taking Aadhaar card details. During the app installation process, it accesses all phone data including contact numbers. They then charge ‘ blind ‘ interest rates and extort a huge amount from the user , ” the cop said, adding that ” some people who took loans of Rs 10,000 was threatened and forced to pay even up to lakhs. “

Rakesh Yadav, cyber cell in charge, Aligarh,” We are following the RBI guidelines and examining the list of over 200 Chinese loan-providing apps which were blacklisted. Further investigation is ongoing into the matter. “

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