India 360: Zee Business became the voice of consumer rights; Google changed its developer policy

Google has made many changes in its developer policy regarding personal loan apps. Now the lending apps will have to provide some necessary documents to Google to remain on the Google Play Store. App developers will have to complete the personal loan app declaration. Not only this, all the necessary documents will also have to be submitted to run the app. Only those apps that offer personal loans will be placed on Google Play Store, which have a license from the Reserve Bank of India (RBI). The license given by RBI will also have to be submitted. Google will no longer allow personal loan apps in the Google Play Store without a license from the Reserve Bank of India. With the implementation of the new rules, the arbitrariness and fraud of personal loan providing apps are expected to be curbed. Now in view of this, Google has tightened the rules for loan app developers.