Loan app harassment cases: Police arrest over 80 persons

Vijayawada: State police have arrested more than 80 persons accused of harassing the loan app customers in the State during the last few months and urged the people to avoid taking loan from the prohibited apps.

Police have received more than 75 complaints of loan app harassment and conducting the investigation. The police officials are suggesting to the people to take loans from the RBI registered banks only.

Many people are taking loans from these loan apps and paying high interests and have been facing the harassment from the loan app organisers and agents. Customers opt for these loan apps because it is very easy to get loans. Loan apps sanction loans without verification and collecting documents. The problems of customers will start later as the loan app organisers and the agents demand high interest rates. The agents and organisers send threatening messages to the customers giving warning that they would upload their personal photos, morphed photos and videos in the social media if the loan borrowers don't pay money as they demanded.

State police received over 75 complaints from the people against the loan app organisers and agents. The police have arrested more than 80 persons accused of harassing the loan borrowers. Most loan app organisers and agents operate their activities from the States like Uttar Pradesh, Madhya Pradesh, Haryana, New Delhi and other North Indian states.

DGP K Rajendranath Reddy in a press release said the police are registering cases under Section-384 (Extortion), 406 (Criminal breach of trust), 420 cheating, Section-306 (abetment of suicide) and Section-505 (voluntarily insulting and humiliation), IPC 506 (Intimidation), prevention of money laundering Act and The Companies Act. The police are receiving complaints that the loan app agents and organisers are demanding very high interest that can be very difficult to pay. Many customers have paid more interest than the loan they had taken and facing many hardships to repay the loans.

Agents and loan organisers call the customers and threaten to upload their morphed videos in the social media if they customers don't pay the loan and interest as per the norms. The loan app organisers operate the network from other States like Uttar Pradesh, Madhya Pradesh, Haryana and other North Indian states.

NTR district police and Krishna district police went to North Indian States and arrested the loan app organisers and agents for alleged harassment of customers. The DGP has announced that the following loan apps are banned by the RBI and asked the people to avoid taking loans from these apps.

In Cash, Cash Lion, Mateermelon, Lucky Wallet, Coco Cash, Rupee Plus, Indian Loan, Credit Finch, Tap Credit, Ratheon Loan, Cash Port, Smile Loan, Credit Day, Cash Today, Lucky Rupee, Go Cash, Snapit Loan, Loan Zone, Quick Cash, Panda Rupees, Play Cash, Dhani, Lazy Pay, IPPB Mobile, Micredit, Quick Credit, Cashon, Rupees Plus, Rupee Now, Elephant Loan, Ant cash and Quick Money.

The DGP said the loan app victims can call to the toll free number 1930 and lodge complaint against the harassment. He appealed to the people to avoid downloading unknown links and apps. The DGP has suggested to the people to take loans from the RBI registered banks only. He asked the loan app harassment victims not to commit suicide and visit the nearest police station and lodge a complaint against the loan app organisers and agents, who collect excess interest and harass for repayment of loans.

He said the loan customers need not pay excess interest due to the SMS and threatening calls made by the loan app agents. He said sharing the links of illegal loan apps is an offence and action will be taken against them.Police officials are sending the special teams to North Indian cities and arresting the loan app organisers and agents with the help of local police.

The State police are asking the customers to verify the finance company details whether it was registered under the Non-Banking Financial Company (NBFC) Act. Customers can verify the loan app details by logging to https://rbi.org.in/scripts/bs and nbfclist.aspx before taking the loans.