Tech

Google Bans Predatory Personal Loan Apps

In a cleanup, Google has banned personal loan apps where the annual percentage rate was 36 per cent or higher. These ‘payday loan’ apps were termed as ‘deceptive or harmful’.

Google is reportedly wanting to “protect users” against “exploitative” terms and has modified its financial apps policy accordingly.

Lenders weren’t happy with the move, as this move forces them to offer loans within the stipulated interest rates or be removed from Play Store.

Online Lenders Alliance CEO Mary Jackson has reportedly said that these practices are legal and the ban is affecting both “legitimate operators” and customers looking for “legal loans”.

OB Bureau

Recent Posts

Send Sheikh Hasina Back: Bangladesh’s Diplomatic Note To India

New Delhi: Bangladesh’s interim government on Monday sent a diplomatic note to India asking the…

33 minutes ago

IREDA Sanctions Over Rs 3000 Cr For Green Energy Projects In Odisha

Bhubaneswar: Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned over Rs 3,000 crore for…

52 minutes ago

Sex With Dead Body Horrendous Act, But Not Rape: Chhattisgarh High Court

Raipur: In a significant observation, the Chhattisgarh High Court has said that engaging in sexual intercourse…

1 hour ago

HC Asks Odisha Govt To Fill Up Vacant Junior Teacher Posts Immediately

Cuttack: The Orissa High Court on Monday reportedly directed the state government to immediately fill…

1 hour ago

40 Youths Stuck In Maldives On Job Promise Plead For Safe Return To Odisha

Bhubaneswar: Over 40 youths, lured to Maldives with promises of lucrative jobs in a private…

1 hour ago

No Attempts To Intimidate British Citizens Would Be Accepted: UK Junior Min After Sikh Groups Allege Harassment By Indian Govt

London: After a number of Sikhs living in the UK alleged that they were being…

2 hours ago

This website uses cookies.