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A photo taken on November 8, 2021 in Moscow shows the logo of the American multinational technology and internet-related services company Google on a smartphone screen. – A Moscow court ordered new fines on Nov. 8 against US tech giant Google and Russia-based encrypted messaging service Telegram, accusing the companies of failing to remove illegal content. Russia has fined the world’s largest tech companies in recent months, with authorities accusing them of failing to properly moderate their content and meddling in the country’s affairs.
At a time when the local central bank is acting aggressively against exploitative tactics, Google claims to have removed more than 2,000 personal loan apps from the Play Store in India and is working on a policy change, according to a report from TechCrunch.
The removed apps targeted Indian consumers, said Saikat Mitra, Senior Director and Head of Trust and Safety at Google Asia-Pacific. They stated this at an event in New Delhi on Thursday, August 25.
“A lot of the loan apps on the Play Store were removed…I would say more than 50 percent of them violated Google’s policies,” Mitra said in a statement.
Also read: Android users should now uninstall these popular apps because they are at risk of malware – says cybersecurity firm
Predatory Loan Applications
The tech giant had to remove the apps after consulting with local law enforcement agencies. According to Mitra, the company plans to make certain changes to its policies in the coming weeks to create better protections against such apps.
Google and several other companies are rushing to take action against predatory credit applications in India that have been proven to charge excessive fees to customers in some cases and exceed acceptable limits in their collection activities.
TechCrunch noted that local officials have claimed that some companies are also using the lending apps to launder money for Chinese companies.
Last year, the maker of Android banned hundreds of personal loan applications from India and required loan apps to give users at least 60 days to repay their loans.
In recent months, the Reserve Bank of India has also taken a number of actions to curb inappropriate behavior by lenders and fintech startups.
In addition, India’s central bank sought to limit lenders’ access to customer data and increase transparency about the interest rates they charge in a directive announced earlier this month.
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BERLIN, GERMANY – AUGUST 31: On August 31, 2021 in Berlin, Germany, a Google company logo hangs on the offices of Google Germany. Google has announced that it will invest one billion euros in several projects in Germany, with the bulk of the money going to 23 wind and solar projects that should be operational by 2030. The effort aims to provide electricity from renewable sources for Google’s data centers in Germany.
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Written by Joaquin Victor Tacla
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