Left Front Govt in Kerala mulling law to rein in loan apps

Thiruvananthapuram, Jan 12 (PTI): The Kerala governmentwas contemplating formulating a law to rein in loan apps andat least 63 cases have been registered in the state so far,Industries Minister E P Jayarajan said on Tuesday.

The irregularities being committed by the loan appshad come to the government's notice.Police have informed thatthere are at least 400 such apps, which function from outsidethe state, Jayarajan said in the assembly on a callingattention motion by Congress MLA K Sabarinath on the matter.

Jayarajan, speaking for Chief Minister PinarayiVijayan, said 63 cases have been registered and crime branchwas investigating two cases.

The government was mulling bringing in a law asearly as possible to rein in the loan apps, the minister said.

Sabarinath wanted the state government to enact acomprehensive legislation taking into account the socialissues created among the youth of the state due to lendingapps.

Earlier, the Kerala police chief had ordered the crimebranch to investigate the online loan apps fraud reported fromsome parts of the state recently.PTI UDBN WELCOME WELCOME