Chandigarh, Sep 19 (PTI) Punjab Chief Secretary Vijay Kumar Janjua on Monday asked the RBI to share a “whitelist” of legal loan apps as he expressed concern over increasing instances of illegal apps lending money to vulnerable people.
Janjua chaired the 18th meeting of the State Level Coordination Committee (SLCC) on non-banking financial companies (NBFCs) and unincorporated bodies (UIBs).
The meeting was convened by M K Mall, Regional Director, Reserve Bank of India (RBI) Chandigarh, said an official release.
The regional director of RBI apprised about a meeting held under the chairpersonship of Union Minister for Finance and Corporate Affairs wherein the RBI has been asked to prepare a “whitelist” of all the legal apps, it said.
The Ministry of Electronics and Information Technology (MeitY) will ensure that only the “whitelist” apps are hosted on app stores, it added.
The chief secretary asked the RBI to prepare and share the whitelist of such legal apps at the earliest, so that the same may also be given wide coverage in order to protect the people from falling prey to any illegal loan apps.
The regional director emphasised on the need for better coordination between the regulators and law enforcement agencies to prevent unscrupulous entities from duping the general public of their hard-earned money. PTI CHS RHL
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