Rs 859 Crore Of Illegal Loan App Operators Seized: Union Minister
NDTV
Assets amounting to Rs 289.28 crore have also been seized under the Foreign Exchange Management Act, 1999
The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday.
Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999.
In a written reply to a query in Rajya Sabha, Karad said Reserve Bank of India (RBI) has furnished the list of Digital Lending Apps (DLAs) being used by regulated entities of RBI to the Ministry of Electronics & Information Technology (MeitY).
MeitY has shared the list with respective intermediary (App Stores) and requested them to ensure that only the apps figuring in the list are hosted on their app stores.
