New Delhi, Dec 18:Google has removed or suspended more than 2,500 fraudulent loan apps from its Play Store between April 2021 and July 2022, according to Finance Minister Nirmala Sitharaman. The government, in collaboration with the Reserve Bank of India (RBI), is actively addressing the issue of fraudulent loan apps to enhance cybersecurity in the Indian financial system. Google has updated its policies, allowing only apps published by Regulated Entities or those in partnership with them on the Play Store. The move is part of ongoing efforts to safeguard citizens against cybercrimes and ensure the integrity of digital lending apps. In a separate response, Sitharaman highlighted that over 44.46 crore loans totaling Rs 26.12 lakh crore have been sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) since its inception, supporting small businesses across various sectors.
