The Union Finance Minister Nirmala Sitharaman requests the Reserve bank of India to prepare a list of Legal loan applications 

The No of cases registered against fraud loan applications is increasing day by day in India

Ministry of Electronics and Information Technology (MEITY) will look after the play store to remove such fraud loan applications. 

As per reports, there are more than 600 reports of fraud loan applications and more than 1100 fraud loan application operating in India 

During the meeting finance minister expressed concern on such apps that provide micro-loans at high interest rates to poor people and exploit them 

Finance Minister also noted that steps should be taken to increase  cyber awareness among customers 


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