Cong leader Satyajeet Tambe writes to RBI Governor and demands action against widespread online loan scams

Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan applications.

Congress leader Satyajeet Tambe has written to Reserve Bank of India (RBI) Governor Shaktikanta Das to draw his attention to widespread abusive practices through online instant loan applications. The letter was written on June 17.

He urged the governor to intervene in the matter. Maharashtra’s cybercrime unit has received at least 1,900 complaints related to online loan applications since 2020.

Tabe said the phenomenon is the latest online threat. “Even a committee formed by RBI found that more than half of the 1,100 apps available on the devices are illegal. These 1,100 digital lending apps are available in at least 80 app stores. According to the RBI report, the maximum number of complaints were filed in Maharashtra, followed by Karnataka, Delhi, Haryana, Telangana, Andhra Pradesh and Uttar Pradesh among others,” Tambe said.

Tambe added in his letter, “Most private lenders attract customers by offering huge loan amounts, collecting the least amount of paperwork and disbursing the loan in no time. People who urgently need money take out loans with high interest rates and end up being harassed.

Tambe further said that borrowers are inundated with calls, abused on calls, and harass people on their contact list. “They often cause irreversible damage with their shameful tactics and the borrower even finds it difficult to cope with society,” he added.

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