When developers submit apps for listing on the Play Store, Google scrutinises them extensively, considering factors like code integrity and content safety. Google's Collaboration With Regulatory AuthoritiesGoogle has taken extra precautions with loan apps, collaborating with regulatory authorities over the past two years to establish stricter guidelines. Currently, there are 200 vetted and verified loan apps partnered with an NBFC, a notable reduction from the previous 4000 listings. As digital lending practices surged in India, hundreds of fake loan apps infiltrated app stores, preying on vulnerable users seeking short-term financial aid. Mitra defended the advertisement of loan apps on Google properties like Search, asserting that it's permissible as long as the apps adhere to Play Store guidelines.

Source: Indian Express December 02, 2023 00:54 UTC