Crackdown on Illegal Loan Apps: 87 Applications Blocked by Government

The government blocked 87 illegal loan lending applications under the Information Technology Act, 2000. The Ministry of Electronics and Information Technology (MeitY) executed these actions, empowered by the IT Act's Section 69A. Regulatory actions are also undertaken against companies violating the Companies Act, 2013.

The government intensified its crackdown on illegal loan lending activities by blocking 87 applications as per Section 69A of the Information Technology Act, 2000, a move reiterated by Harsh Malhotra, Minister of State for Corporate Affairs, on Monday.

The Ministry of Electronics and Information Technology (MeitY) spearheaded this operation, employing the regulatory power conferred by the IT Act to restrict public access to these fraudulent applications.

Moreover, ongoing regulatory actions include inquiries, inspections, and investigations under the Companies Act, 2013 against firms engaged in online lending activities via apps, ensuring violators face legal consequences.

(With inputs from agencies.)