Fake Loan Apps; 12 Signs to Identify Fake Lending App

The crackdown on fake loan apps came heavy as the government of India had 27 online loan apps banned in India, early on this year. This decision was carried out by the Ministry of Electronics and Information Technology (MeitY) after reciveing a request from Ministry of Home Affairs. Too many fake lending apps had been lurking on Playstore and Appstore cheating users off their money. Unfortunately, this was in a climate when people were in need of funds, usually after being turned away by traditional lenders.