Loan app – 4 Bubbly http://4bubbly.com/ Tue, 22 Nov 2022 03:36:42 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://4bubbly.com/wp-content/uploads/2021/10/profile-120x120.png Loan app – 4 Bubbly http://4bubbly.com/ 32 32 Brac Bank launches digital lending app ‘Shubidha’ https://4bubbly.com/brac-bank-launches-digital-lending-app-shubidha/ Tue, 15 Nov 2022 15:45:00 +0000 https://4bubbly.com/brac-bank-launches-digital-lending-app-shubidha/ [ad_1] Brac Bank on Thursday (November 10th) launched an end-to-end digital lending application named “Shubidha”. The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to a press release. Additionally, they can purchase products and services from the bank’s partner outlets using the app […]]]>

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Brac Bank on Thursday (November 10th) launched an end-to-end digital lending application named “Shubidha”.

The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to a press release.

Additionally, they can purchase products and services from the bank’s partner outlets using the app and the loan will be disbursed digitally to partner accounts within moments. The vision of the bank is to make the app a one stop platform for loan related solutions for valued customers.

The ‘Shubidha’ app has two variants, one to be used by customers and the other by Brac Bank business partners. Customers will experience a complete digital borrowing journey quickly, securely, and conveniently using the customer app. They can avail the loan from their convenient location and do not need to visit any branch or contact any bank representative to avail the loan facility. If applied during working hours, clients can be notified of loan sanction decisions within minutes of application. After the loan approval, customers can visit the bank’s partner outlets to purchase the desired products using the loan facility. At that time, the partner will use the partner application to process the loan for the customers’ purchase.

According to the press release, in addition to the benefits for valuable customers, Shubidha App has significantly reduced its loan processing time and opened a new gateway for the bank to reach many untapped customers through a digital platform.

In the pilot phase, the bank provided an SMS offer to select customers holding an account with the bank to take advantage of the “Shubidha” application. Invited customers can download the ‘Shubidha’ app from Google Playstore or App Store and use the app to avail the digital personal loan to purchase desired products and services from the Bank’s partner outlets. Many customers have already purchased products from partner outlets – Transcom Digital, Hatil Furniture and Gadget & Gear. The bank will onboard more partners from various industries to meet the lifestyle needs of customers.

Customers can avail Tk3 lakh digital personal loan, repayable for up to 24 months. Competitive interest rates and processing fees will make the loan affordable for clients.

Commenting on the pioneering digital lending app, Md Mahiul Islam, Head of Retail Banking, Brac Bank said, “This product is an example of innovation in banking service which will also go with the vision of the Government of Digital Bangladesh. . The unique aspect of the loan is that the application will be made, processed and disbursed digitally, providing many conveniences to customers.”

“Our plan is to integrate more partners from a wide range of industries keeping in mind the daily necessity of valued customers. We want to expand this and transform “Shubidha” into a digital lending platform accessible from any part of the country. As a customer-centric bank, Brac Bank will continue its efforts to bring new technologies to ensure a pleasant customer experience,” he added.

It should be noted that the bank has also introduced a digital loan facility for MPO-based teachers in Gazipur and Savar regions to purchase laptops. This initiative collaborates with the Directorate of Secondary and Higher Education (DSHE) since the two parties signed a Memorandum of Understanding (MoU) on September 5th. Teachers can apply for the loan digitally through the bank’s laptop loan application portal developed by Shadhin Fintech Solutions Limited. Their applications will be assessed and the bank will disburse the loans digitally using the Shubidha app.

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Brac Bank launches Bangladesh’s first-ever digital lending app, “Shubidha” https://4bubbly.com/brac-bank-launches-bangladeshs-first-ever-digital-lending-app-shubidha/ Thu, 10 Nov 2022 07:55:00 +0000 https://4bubbly.com/brac-bank-launches-bangladeshs-first-ever-digital-lending-app-shubidha/ [ad_1] TBS report November 10, 2022, 1:55 p.m. Last modification: November 10, 2022, 2:22 PM Photo: courtesy “> Photo: courtesy Brac Bank has launched the country’s first-ever end-to-end digital lending app, named “Shubidha”. The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to […]]]>

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TBS report

November 10, 2022, 1:55 p.m.

Last modification: November 10, 2022, 2:22 PM

Photo: courtesy

“>

Photo: courtesy

Brac Bank has launched the country’s first-ever end-to-end digital lending app, named “Shubidha”.

The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to a press release.

Additionally, they can purchase products and services from the bank’s partner outlets using the app and the loan will be disbursed digitally to partner accounts within moments.

The vision of the bank is to make the app a one stop platform for loan related solutions for valued customers.

The “Shubidha” application has two variants – one for use by customers and another for business partners of Brac Bank. Customers will experience a complete digital borrowing journey quickly, securely, and conveniently using the customer app. They can avail the loan from their convenient location and do not need to visit any branch or contact any bank representative to avail the loan facility.

If applied during working hours, clients can be notified of loan sanction decisions within minutes of application. After the loan approval, customers can visit the bank’s partner outlets to purchase the desired products using the loan facility. At that time, the partner will use the partner application to process the loan for the customers’ purchase.

In addition to the benefits for valuable customers, the Shubidha app has significantly reduced its loan processing time and opened a new gateway for the bank to reach many untapped customers through a digital platform.

In the pilot phase, the bank provided an SMS offer to select customers holding an account with the bank to take advantage of the “Shubidha” application. Invited customers can download the “Shubidha” app from Google Playstore or App Store and use the app to avail the digital personal loan to purchase desired products and services from the Bank’s partner outlets.

Many customers have already purchased products from partner outlets – Transcom Digital, Hatil Furniture and Gadget & Gear. The bank will onboard more partners from various industries to meet the lifestyle needs of customers.

Customers can avail Tk3 lakh digital personal loan, repayable for up to 24 months. Competitive interest rates and processing fees will make the loan affordable for clients.

Commenting on the pioneering digital lending app, Md Mahiul Islam, Head of Retail Banking at the bank, commented, “This product is an example of innovation in banking service that will also go with the vision of the Government of Digital Bangladesh. The unique aspect of the loan is that the application will be made, processed and disbursed digitally, providing many conveniences to customers.”

“Our plan is to integrate more partners from a wide range of industries keeping in mind the daily necessity of valued customers. We want to expand this and transform “Shubidha” into a digital lending platform accessible from any part of the country. As a customer-centric bank, Brac Bank will continue its efforts to bring new technologies to ensure a pleasant customer experience,” he added.

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Brac Bank launches Bangladesh’s first-ever digital lending app, “Shubidha” https://4bubbly.com/brac-bank-launches-bangladeshs-first-ever-digital-lending-app-shubidha-2/ Thu, 10 Nov 2022 07:55:00 +0000 https://4bubbly.com/brac-bank-launches-bangladeshs-first-ever-digital-lending-app-shubidha-2/ [ad_1] TBS report November 10, 2022, 1:55 p.m. Last modification: November 10, 2022, 2:22 PM Photo: courtesy “> Photo: courtesy Brac Bank has launched the country’s first-ever end-to-end digital lending app, named “Shubidha”. The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to […]]]>

[ad_1]

TBS report

November 10, 2022, 1:55 p.m.

Last modification: November 10, 2022, 2:22 PM

Photo: courtesy

“>

Photo: courtesy

Brac Bank has launched the country’s first-ever end-to-end digital lending app, named “Shubidha”.

The app will allow customers to apply for digital retail loans from anywhere in Bangladesh and get loan approval instantly, according to a press release.

Additionally, they can purchase products and services from the bank’s partner outlets using the app and the loan will be disbursed digitally to partner accounts within moments.

The vision of the bank is to make the app a one stop platform for loan related solutions for valued customers.

The “Shubidha” application has two variants – one for use by customers and another for business partners of Brac Bank. Customers will experience a complete digital borrowing journey quickly, securely, and conveniently using the customer app. They can avail the loan from their convenient location and do not need to visit any branch or contact any bank representative to avail the loan facility.

If applied during working hours, clients can be notified of loan sanction decisions within minutes of application. After the loan approval, customers can visit the bank’s partner outlets to purchase the desired products using the loan facility. At that time, the partner will use the partner application to process the loan for the customers’ purchase.

In addition to the benefits for valuable customers, the Shubidha app has significantly reduced its loan processing time and opened a new gateway for the bank to reach many untapped customers through a digital platform.

In the pilot phase, the bank provided an SMS offer to select customers holding an account with the bank to take advantage of the “Shubidha” application. Invited customers can download the “Shubidha” app from Google Playstore or App Store and use the app to avail the digital personal loan to purchase desired products and services from the Bank’s partner outlets.

Many customers have already purchased products from partner outlets – Transcom Digital, Hatil Furniture and Gadget & Gear. The bank will onboard more partners from various industries to meet the lifestyle needs of customers.

Customers can avail Tk3 lakh digital personal loan, repayable for up to 24 months. Competitive interest rates and processing fees will make the loan affordable for clients.

Commenting on the pioneering digital lending app, Md Mahiul Islam, Head of Retail Banking at the bank, commented, “This product is an example of innovation in banking service that will also go with the vision of the Government of Digital Bangladesh. The unique aspect of the loan is that the application will be made, processed and disbursed digitally, providing many conveniences to customers.”

“Our plan is to integrate more partners from a wide range of industries keeping in mind the daily necessity of valued customers. We want to expand this and transform ‘Shubidha’ into a digital lending platform accessible from any part of the country. As a customer-centric bank, Brac Bank will continue its efforts to bring new technologies to ensure a pleasant customer experience,” he added.

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Gurugram: Hounded and Intimidated, Loan App Victims Turn to Each Other | Gurgaon News https://4bubbly.com/gurugram-hounded-and-intimidated-loan-app-victims-turn-to-each-other-gurgaon-news/ Sun, 06 Nov 2022 07:00:00 +0000 https://4bubbly.com/gurugram-hounded-and-intimidated-loan-app-victims-turn-to-each-other-gurgaon-news/ [ad_1] GURUGRAM: Rahul (name changed), a resident of New Colony, was the victim of a Chinese loan app last year, and for a loan of Rs 40,000, he ended up paying almost Rs 5 lakh. But the harassment didn’t stop even after he sold his wife’s jewelry, with Rahul reaching a point where he started […]]]>

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GURUGRAM: Rahul (name changed), a resident of New Colony, was the victim of a Chinese loan app last year, and for a loan of Rs 40,000, he ended up paying almost Rs 5 lakh.
But the harassment didn’t stop even after he sold his wife’s jewelry, with Rahul reaching a point where he started thinking about ending his life. “Then I approached the police, who helped me overcome these thoughts and started chasing the harassers,” Rahul said.
Recently, many people have fallen victim to Chinese loan apps that provide easy microloans at high interest rates. When Rahul shared his story on social media, he caught the attention of many other victims. Soon, the idea of ​​forming a WhatsApp group had taken hold. And earlier this year, the group Save Us Please started, which has become a forum for victims of loan apps to get emotional support, legal and procedural advice to deal with blackmail and cyberbullying, or just to let off steam.
“On the group, we share the telephone numbers of loan app representatives and ask everyone to block these numbers,” Rahul said.
The group has connected nearly 400 people across India, including residents of Delhi and Gurugram, since January.
Nitin (name changed) from Nashik said the support group helped him after he was the victim of a loan application. “The continuous bullying pushed me to the lowest point in my life. I didn’t know how to deal with it. The group gave me emotional support when I needed it most,” he said.
There are updates on actions taken against loan applications by different agencies and polices in the group, which members say gives them strength and confidence.
Another victim, Shalini (name changed) from Mumbai, fell on hard days when loan app callers threatened to share her transformed photos. But thanks to continued guidance from band members, she is now in a better place. “It started with a small loan, but the continuous and endless harassment pushes a person to a point where there is no light, and all that can be seen is the end of everything” , said Shalini.
On the group’s advice, she changed her number, which ended the harassment. She said her association with the group made her realize that she was not alone and that many people faced similar issues. When they are struggling together, it gives a sense of strength, Shalini said.
For Rahul, the loan application scam is “financial terrorism”. He said agencies in India have not yet understood the seriousness of the problem or the extent to which loan apps work. “We keep telling everyone that taking a loan is not a crime, but what these blackmailers are doing is a crime. We have to fight against these people instead of surrendering,” Rahul said. . “The only way to deal with these people is not to give in to their demands and pressures,” he added.
The group has devised a five-point plan that they share with all new members to equip them to deal with scammers. First, they say, install Truecaller and avoid unknown numbers. Second, disable the blue tick option in WhatsApp chat so that lending app scammers cannot figure out if someone has read a message. Usually they text before calling when they see the blue tick. Third, after falling victim to lending apps, display a status message to let everyone know that hackers are taking control of the mobile number and associated accounts. Fourth, avoid calls and texts to and from blackmailers. And fifth, if possible, change the cell phone number.

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Law Enforcement Directorate freezes Rs 78 deposits in Chinese loan app case : The Tribune India https://4bubbly.com/law-enforcement-directorate-freezes-rs-78-deposits-in-chinese-loan-app-case-the-tribune-india/ Sat, 22 Oct 2022 07:00:00 +0000 https://4bubbly.com/law-enforcement-directorate-freezes-rs-78-deposits-in-chinese-loan-app-case-the-tribune-india/ [ad_1] Tribune press service New Delhi, October 21 The Directorate of Law Enforcement said today that it has frozen new deposits worth Rs 78 crore following raids on the premises of payment gateway Razorpay and some banks in the as part of its ongoing investigation under the provisions of the PMLA into alleged […]]]>

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Tribune press service

New Delhi, October 21

The Directorate of Law Enforcement said today that it has frozen new deposits worth Rs 78 crore following raids on the premises of payment gateway Razorpay and some banks in the as part of its ongoing investigation under the provisions of the PMLA into alleged illegal operations of lending apps “controlled” by Chinese nationals. .

The searches were carried out at five premises in Bangalore on October 19, the ED said in a statement.

Operating mode

These entities are controlled by Chinese nationals. The modus operandi is to use fake Indian documents and make them bogus administrators and generate proceeds of crime. OF

ED’s case under the PMLA is based on 18 FIRs filed by the Bengaluru Police Cybercrime Police Station against numerous entities and individuals for their involvement in extortion and harassment of the public, who had benefited from small loans via mobile applications managed by them. . “The said entities were found to be doing their suspicious/illegal activities through various merchant IDs/accounts held with payment gateways and banks,” he added. These entities generated “proceeds of crime” through various merchant IDs and accounts held with payment gateways and banks.

#China #law enforcement leadership

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Chinese loan application case: ED seizes Rs 78 cr after searches at 5 locations https://4bubbly.com/chinese-loan-application-case-ed-seizes-rs-78-cr-after-searches-at-5-locations/ Sat, 22 Oct 2022 07:00:00 +0000 https://4bubbly.com/chinese-loan-application-case-ed-seizes-rs-78-cr-after-searches-at-5-locations/ [ad_1] The Law Enforcement (ED) Directorate said on Friday that it had recently carried out search operations at five locations in Bangalore, as part of its investigation related to the Chinese loan app case. An official said the case is based on 18 FIRs registered by the Bengaluru City Cybercrime Police Station against numerous […]]]>

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The Law Enforcement (ED) Directorate said on Friday that it had recently carried out search operations at five locations in Bangalore, as part of its investigation related to the Chinese loan app case.

An official said the case is based on 18 FIRs registered by the Bengaluru City Cybercrime Police Station against numerous entities and individuals in relation to their involvement in extortion and harassment of the public who had benefited small loan amounts through running mobile apps. by these entities.

During the investigation, it emerged that these entities are controlled by Chinese nationals.

The modus operandi of these entities is to use fake Indian documents and make them bogus directors of these entities and generate proceeds of crime.

The said entities were found to carry out their illegal activities through various merchant IDs held with payment gateways and banks.

Based on the investigation conducted and the information received from the Central Crime Branch of Bangalore City, the search operation was carried out in this case.

The premises of Razorpay Pvt Ltd and the compliance offices of banks linked to these entities were targeted by the search operation.

During the search operation, it was noticed that the said entities were generating proceeds of crime through various merchant IDs held with payment gateways and had submitted fake addresses in KYC documents.

“An amount of 78 crore rupees was seized under Section 17(1) from the merchant IDs and bank accounts of these entities controlled by Chinese persons. The total seizure, in this case, amounts to now at Rs 95 crore,” the official said.

–IANS

atk/pgh

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Two people arrested for deceiving borrowers via fake loan app https://4bubbly.com/two-people-arrested-for-deceiving-borrowers-via-fake-loan-app/ Mon, 17 Oct 2022 07:00:00 +0000 https://4bubbly.com/two-people-arrested-for-deceiving-borrowers-via-fake-loan-app/ [ad_1] The Cyber ​​Crime Wing arrested a duo of Tenkasi who created a fake loan app and deceived borrowers out of ₹4 crore. Police said A. Soundrarajan de Kovilpatti had filed a complaint with the national cybercrime reporting portal on September 15, saying he had seen a “Monzo online lending app” advertisement, clicked on the […]]]>

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The Cyber ​​Crime Wing arrested a duo of Tenkasi who created a fake loan app and deceived borrowers out of ₹4 crore.

Police said A. Soundrarajan de Kovilpatti had filed a complaint with the national cybercrime reporting portal on September 15, saying he had seen a “Monzo online lending app” advertisement, clicked on the link and installed the app. Using the app, he applied for a loan of ₹3 lakh.

A stranger contacted him via WhatsApp and demanded money under the guise of processing fees, account number assignment and account clearing fees. Plaintiff Soundrarajan sent ₹1.35 lakh. Then the scammer asked him for more money, then he realized that he had been cheated. So he sued to get his money back.

After analyzing the details of call records (CDRs), Thoothukudi’s Cybercrime Unit traced the location of V. Balasubramanian from Tenkasi and arrested him.

The police investigation revealed that the accused established a fake company in his name and created bank accounts for fraudulent transactions with the help of another accused P. Muthuraj from Tenkasi.

He had three bank accounts which had a credit transaction value of ₹4.42 crore from all over India. Further investigation revealed that there are more number of defendants involved in this case all over India.

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PA police to seek Interpol’s help in arresting foreign loan app organizers https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers/ Fri, 14 Oct 2022 16:16:00 +0000 https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers/ [ad_1] State police are reportedly seeking Interpol’s assistance in arresting online lending app organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said. Game store managements of different organizations, bankers, service providers, app developers and agents would be […]]]>

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State police are reportedly seeking Interpol’s assistance in arresting online lending app organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said.

Game store managements of different organizations, bankers, service providers, app developers and agents would be reserved in cases of loan applications, warned the DGP and called on bank managements to follow and verify the KYC and to carefully monitor suspicious accounts.

Mr Rajendranath Reddy told reporters here on Friday that the Reserve Bank of India (RBI) had identified that around 600 apps were operating against the rules and had banned 137 apps across the country.

As many as 80 people involved in online loan applications have been arrested in 75 cases across the state over the past year, and efforts were underway to find the remaining defendants. The majority of those arrested were from other states, the DGP explained.

“Most of the online loan applications have been traced to China and other countries. We have identified the fraudsters who exploit the applications by appointing commissionaires in different states. The police will take the help of Interpol to arrest defendants from other counties,” Mr. Rajendranath Reddy said.

Action plan

An action plan had been prepared to expedite the investigation of loan application cases. Cases would be filed against defendants including bankers, service providers, app developers and organizers under IPC Section 384 (Extortion), 406 (Criminal Breach of Trust), 306 (Incitement to suicide) and other charges.

Notices had been served on the management of all the banks. Police commissioners from all arrondissements have held meetings with bankers, the DGP said.

A call center with the number 1930 had been opened to help victims of loan applications. Those who received calls from app organizers were asked to alert the call center.

“The public are requested not to click on unknown links, share photos, documents, bank accounts, Aadhaar numbers and other details. The police are taking all measures to control online fraudsters and victims must not resort to suicide,” the DGP said.

IG Kanthi Rana Tata, DIGs G. Pala Raju and PHD Ramakrishna were among those present.

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PA police to seek Interpol’s help in arresting foreign loan app organizers https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers-2/ Fri, 14 Oct 2022 16:16:00 +0000 https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers-2/ [ad_1] State police are reportedly seeking Interpol’s assistance in arresting online lending app organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said. Game store managements of different organizations, bankers, service providers, app developers and agents would be […]]]>

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State police are reportedly seeking Interpol’s assistance in arresting online lending app organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said.

Game store managements of different organizations, bankers, service providers, app developers and agents would be reserved in cases of loan applications, warned the DGP and called on bank managements to follow and verify the KYC and to carefully monitor suspicious accounts.

Mr Rajendranath Reddy told reporters here on Friday that the Reserve Bank of India (RBI) had identified that around 600 apps were operating against the rules and had banned 137 apps across the country.

As many as 80 people involved in online loan applications have been arrested in 75 cases in the state over the past year, and efforts were underway to find the remaining defendants. The majority of those arrested were from other states, the DGP explained.

“Most of the online loan applications have been traced to China and other countries. We have identified the fraudsters who exploit the applications by appointing commissionaires in different states. The police will take the help of Interpol to arrest defendants from other counties,” Mr. Rajendranath Reddy said.

Action plan

An action plan had been prepared to expedite the investigation of loan application cases. Cases would be filed against defendants including bankers, service providers, app developers and organizers under IPC Section 384 (Extortion), 406 (Criminal Breach of Trust), 306 (Incitement to suicide) and other charges.

Notices had been served on the management of all the banks. The police commissioners of all the districts organized meetings with the bankers, specified the DGP.

A call center with the number 1930 had been opened to help victims of loan applications. Those who received calls from app organizers were asked to alert the call center.

“The public are requested not to click on unknown links, share photos, documents, bank accounts, Aadhaar numbers and other details. The police are taking all measures to control online fraudsters and victims must not resort to suicide,” the DGP said.

IG Kanthi Rana Tata, DIGs G. Pala Raju and PHD Ramakrishna were among those present.

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PA police to seek Interpol’s help in arresting foreign loan app organizers https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers-3/ Fri, 14 Oct 2022 16:16:00 +0000 https://4bubbly.com/pa-police-to-seek-interpols-help-in-arresting-foreign-loan-app-organizers-3/ [ad_1] The state police would take the help of Interpol to arrest the online loan application organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said. Game store managements of different organizations, bankers, service providers, app developers and […]]]>

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The state police would take the help of Interpol to arrest the online loan application organizers operating from other countries. Most of the apps were operated from China and racketeering kingpins had been identified, Chief Police Officer (DGP) KV Rajendranath Reddy said.

Game store managements of different organizations, bankers, service providers, app developers and agents would be reserved in cases of loan applications, warned the DGP and called on bank managements to follow and verify the KYC and to carefully monitor suspicious accounts.

Mr Rajendranath Reddy told reporters here on Friday that the Reserve Bank of India (RBI) had identified that around 600 apps were operating against the rules and had banned 137 apps across the country.

As many as 80 people involved in online loan applications have been arrested in 75 cases in the state over the past year, and efforts were underway to find the remaining defendants. The majority of those arrested were from other states, the DGP explained.

“Most of the online loan applications have been traced to China and other countries. We have identified the fraudsters who exploit the applications by appointing commissionaires in different states. The police will take the help of Interpol to arrest defendants from other counties,” Mr. Rajendranath Reddy said.

Action plan

An action plan had been prepared to expedite the investigation of loan application cases. Cases would be filed against defendants including bankers, service providers, app developers and organizers under IPC Section 384 (Extortion), 406 (Criminal Breach of Trust), 306 (Incitement to suicide) and other charges.

Notices had been served on the management of all the banks. The police commissioners of all the districts organized meetings with the bankers, specified the DGP.

A call center with the number 1930 had been opened to help victims of loan applications. Those who received calls from app organizers were asked to alert the call center.

“The public are requested not to click on unknown links, share photos, documents, bank accounts, Aadhaar numbers and other details. The police are taking all measures to control online fraudsters and victims must not resort to suicide,” the DGP said.

IG Kanthi Rana Tata, DIGs G. Pala Raju and PHD Ramakrishna were among those present.

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