Until India maps the network of these Chinese lending apps and traces their offshore location, new apps with the promise of millions will continue to lure Indians.
These scams work by enticing people with small payouts on investments or bets, and building trust. When they start investing more money, it disappears, say police.
Shein, among 59 other Chinese apps, was banned by government last year in June. However, Amazon has announced a sale of online retail brand's products during its 'prime day' sale.
Shares of ByteDance trade at a valuation of over $250 bn. But it’s a tough time to be wealthy in China, which seeks to rein in powerful corporations & their billionaire founders.
Snack Video by Kuaishou Technology, Zili by Xiaomi, and ByteDance's Resso have seen a surge in downloads over the past few months since the govt banned over 200 Chinese apps.
The stance of Policybazaar & MobiKwik reflects a shift in sentiment against China after Ladakh and a wave of techno-nationalism as Covid pummels economies.
The private lender's shares tumbled to be top Nifty 50 loser after India's central bank barred it from taking on new customers through online and mobile banking channels.
A next generation extended stand-off air-to-surface missile test fired by IAF, ROCKS has been designed & manufactured by Israeli defence major Rafael, keeping India’s needs in mind.
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