Google has said that it has removed close to 2000 personal loan apps from its Play Store in India due to safety reasons. Google noted that 2000 apps account to more than half of the total apps in the lending category. The apps were removed since the beginning of the year. Google shifted its focus towards lending apps in India after the Reserve Bank of India came up with a regularity framework for banning unregulated lending activities to save the borrowers from harassment, blackmail and predatory lending.
Talking about the new Play Store guidelines, Senior Director and Head of Trust & Safety for Google Asia-Pacific Saikat Mitra said, “Supported by local research and feedback from our stakeholders, we have been updating the Google Play policies associated with personal loan apps in India.” He further added that the apps were posing a threat to the Indian users and so the company decided to remove them after consulting with the law enforcement authorities.