Tech giant Google said it reviewed hundreds of personal loan apps in India and those who were found violating the user safety policies were immediately removed from its play store.
The company in a blog post published on January 14 said the move was based on flags submitted by users and government agenciesAlso read: Digital lending startups face image crisis as borrowers cry coercive collection tactics by some app-based lenders
The post also stated that the company instructed the remaining apps, the ones which were not removed, to comply with existing norms. Failure to comply with existing laws and regulations would lead to the removal from the Play Store.
"The apps that were found to violate our user safety policies were immediately removed from the Store, and we have asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations. Apps that fail to do so will be removed without further notice," Google India said.
"In addition, we will continue to assist the law enforcement agencies in their investigation of this issue,' the company said.
In its blogpost, Google said all developers on its Play Store agree to the terms of the Google Play Developer Distribution Agreement, which stipulates that apps must adhere to applicable rules and laws, including generally accepted practices and guidelines.
Google said it wanted to clarify the actions it is taking on a personal loan app, adding that such platforms have received attention recently.
Also read: RBI constitutes working group on digital lending
The Reserve Bank of India (RBI) on January 13 announced an internal working group to study digital lending activities so that an appropriate regulatory framework can be formed.
"Recent spurt and popularity of online lending platforms/ mobile lending apps ('digital lending') has raised certain serious concerns which have wider systemic implications," the central bank said in the statement.