A raft of digital lending platforms is under RBI's scrutiny following multiple cases of fake loan apps, fraudulent lending practices and coercive collection systems. RBI formed a committee to review the space, and Google booted out some apps from playstore. Were these actions justified? Yes. Typically these lenders offer instant personal loans, with interest rates sometimes at just a percent a day. Consumers fall for the easy money, end up in a debt trap and later get coerced to repay. Multiple cases of borrowers' suicides have surfaced. Many Chinese lenders, possibly eyeing a quick buck, have also been trying to tap this space, operating in India illegally in some cases.