The scam of deceiving the gullible people by giving loans will end, the government will bring a new strict law

Loan Scams: The heinous business of apps and agencies that trick gullible people and charge huge amounts from them in the name of providing loans will now stop. The government is bringing a strict law to take action against those who cheat in the name of providing loans. The name of this proposed law is Banking of Unregulated Lending Activities, which may soon get the approval of the cabinet. Mandatory to take permission After the implementation of this law, whether someone is doing the business of providing commercial lending personally or through digital means, then it will be mandatory to take permission from RBI or State Bank of India Act 1955 or any state money lending law.

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