Zee Business viewers praise #OperationHaftaVasooli success, laud Anil Singhvi for this initiative

Zee Business Operation ‘Hafta Vasooli’ exposé is being lauded by viewers. Notably, the Reserve Bank of India (RBI) has launched a crackdown against wrongdoings by app-based small lending firms vis a vis their borrowers in the wake of the this sting operation and everyone is praising Managing Editor Anil Singhvi for taking the initiative to come to the rescue of the loan-takers who were facing a very torrid time from their lenders. (#OperationHaftaVasooli)

The banking watchdog, after the relentless Zee Business campaign, has now made it mandatory for small fintech firms to mention the loan agent on their website and has given clear instructions to all those app-based lending platforms to follow fair lending practices while dealing with loan-takers or face consequences. The RBI has launched strong action against those who do not treat borrowers fairly.

Watch Zee Business Tweet Video Below:

SUCCESSFUL रहा #OperationHaftaVasooli... दर्शकों ने जताया ज़ी बिज़नेस का आभार#ZeeBusiness मतलब आपका फायदा...@AnilSinghvi_ pic.twitter.com/jbylVvkh2p

— Zee Business (@ZeeBusiness) June 25, 2020

The reactions were quick to come. A viewer from Rajasthan, Mayank, thanked Zee Business for running the Hafta Vasooli campaign, forcing RBI to take such action. Mayank also thanked Singhvi profusely.

Another viewer Pravin said, “My biggest thanks goes to Anil Singhvi and Zee Business who took this case and made this operation Hafta Vasooli very successful,” 

He added, “I salute you [Anil SInghvi] for this”.

Another caller called Pratik thanked Zee Business and RBI for its positive response after the Hafta Vasooli expose was televised.

Earlier, today, Singhvi hailed the RBI move and said that it's high-time for the app-based lending platforms to follow fair lending practices and implement RBI guidelines - during the lockdown borrowers were put through a harrowing time.

 Watch Zee Business Tweet Video On #OperationHaftaVasooli: 

ज़ी बिज़नेस के स्टिंग ऑपरेशन पर RBI का बड़ा एक्शन...
लॉकडाउन में मोबाइल ऐप से लोन लेकर फंसे लोगों को राहत...
ये तो बस शुरुआत है...ज़ी बिज़नेस आपके साथ है#OperationHaftaVasooli @AnilSinghvi_ @RBI @RBIsays @DasShaktikanta @YogeshDayal17 pic.twitter.com/SEqwj9q0O2

— Zee Business (@ZeeBusiness) June 25, 2020

Significantly, Singhvi said these lending platforms should know that the RBI reprimand can also become a punishment soon if they fail to understand and implement fair lending practices.

Addressing the delay in RBI's action Singhvi said that it takes time for a regulator to take action and the bank's late action has to be seen from this perspective.

In a major sting operation, Zee Business had exposed app-based lending fintech firms during the lockdown which were defying the RBI EMI moratorium order. These small fintech firms were found to be forcing loan borrowers to pay their EMIs or face a huge penalties. They were even shown blackmailing the loan borrowers that their Cibil score will be damaged if they fail to pay EMI on time. What is even worse was that these fintech firms were even using foul language while communicating with loan-takers.

See Zee Business Live TV Streaming Below:

"This RBI action is a big victory for Zee Business viewers who motivate us to come out with such an exposé. This does not just help innocent victims but also the system itself. Authorities can know how much of their welfare schemes are getting implemented at the ground level," concluded Anil Singhvi.