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Now, loan apps on Google Play Store India will have to display partner bank links

Sep 21, 2022 11:48 AM IST

Apps that fail to comply will be deleted from the Play Store

Google has made it compulsory for loan disbursal apps on the Indian Play Store to display a link to their partner banks or non-banking finance company (NBFC).

The measure was implemented after a series of meetings with officials from Reserve Bank of India (RBI) and Ministry of Electronics and Information Technology (MeitY).

Google updated its policies on loan apps on September 5, and the deadline for compliance was September 19, failing which apps could get deleted from the Play Store.

Speaking with The Economic Times, Google said that it will begin removing apps "that remain non-compliant with the requirements past the deadline provided" and that the company has been taking "necessary enforcement action" as part of "its routine compliance sweeps".