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Govt proposes new legislation to curb proliferation of illegal lending apps
The New Indian Express Mangaluru
|December 20, 2024
THE government is planning a comprehensive legislature to curb the proliferation of illegal lending apps.
The department of financial services, Ministry of Finance, has prepared a draft bill, which proposes severe punishment with a jail term of up to 10 years and monetary fines of up to ₹1 crore for those found involved in promoting unregulated lending activities.
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