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RBI warning! Loan may be expensive from these apps, know what is the reason

Fraud is increasing in the country with the advent of digital platforms. Many fake companies are developing apps through which they are providing loans to people.

In view of this, Reserve Bank of India (RBI) has alerted all customers. RBI (Reserve Bank of India) said on Wednesday that fraud is being done by pretending to provide easy credit to individual customers and small businesses through fake platforms and apps.

On such digital platforms, customers are given loans without special documentation. In return they are charged huge interest and other charges. Not only this, customer data and mobile phone information are also misused.

Complain here
RBI said that customers should not give their KYC documents to any such unauthorized app. Also, if any app or digital platform tries to deceive, complain to the agencies concerned. Customers can also send a complaint on RBI’s online portal conscious RBI.org.in.

Loan only from here
Loans can be availed from banks, registered non-banking financial companies (NBFCs) registered with RBI and other entities regulated under the statutory provisions of the state government. So just take a loan from there. Also you should never give KYC documents to any unknown person, unauthorized app and inform the relevant law enforcement agencies about such incidents.

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