Google’s Play Store Removes Over 100 Personal Loan Apps

Tech giant Google's PlayStore on Thursday removed as many as 118 unspecified loan apps.

As per several media reports, hundreds of personal loan apps were evaluated by Google based on users' and government inputs.

"We have reviewed hundreds of personal loan apps in India, based on flags submitted by users and government agencies. The apps that were found to violate our user safety policies were immediately removed from the Store. Apps that fail to do so will be removed without further notice," said Suzanne Frey, Google Vice-President for Product, Android Security, and Privacy said in a blog post.

"In addition, we will continue to assist the law enforcement agencies in their investigation of the issue," she wrote, adding, "We believe transparency of information around features, fees, risks, and benefits of personal loans will help people make informed decisions about their financial needs, thereby reducing the risk of being exposed to deceptive financial products and services,".

PlayStore, fintech expert Srikanth L was quoted stating in a TOI report that at least 118 such apps were dropped.

Google's move comes nearly after 31 were arrested including four Chinese nationals in multi crore instant loans scam. On Wednesday, a Chinese and an Indian national from Thane as part of the Telangana police's probe into an instant loan apps scam were held as well.