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GOVT CRACKS DOWN ON ACTION AGAINST DECEPTIVE LOAN APP PROMOTIONS
The Business Guardian
|February 08, 2024
The central government is taking action against the promotion of deceptive loan apps on social media
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Union Minister Rajeev Chandrasekhar emphasized that these ads are misleading and exploit internet users. Chandrasekhar, the Minister of State for Electronics and IT, noted that the IT ministry has explicitly instructed platforms not to display advertisements for fraudulent loan apps.
"We are cracking down on the promotion of fraudulent loan apps on various platforms. Through yesterday's advisory, we have made it clear that no intermediary should host ads for such apps as it can mislead and exploit internet users," said Chandrasekhar during a press briefing at an event.
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