Fraudulent lending apps claim to provide instant cash with low interest rates. Once installed, they request excessive permissions such as access to contacts, photos, and messages. After the loan is disbursed, the interest rates are inflated and repayment timelines shortened. If victims delay repayment, scammers threaten to leak personal photos or contact their friends and family. These apps are often run by unregistered entities operating outside India.

• ⚠️ Apps not listed under any RBI-registered NBFC or bank.
• 💡 Excessive permission requests like camera and contacts access.
• ✅ Instant approval without income verification or credit score check.
• 📉 No physical office address or valid customer support number.
• 🎯 Harassment threats and abusive recovery practices after disbursal.

Do’s

• Borrow only from apps linked to RBI-registered NBFCs or scheduled banks.
• Check the lender’s registration number on the RBI website before installation.
• Read privacy policies carefully to understand how your data is used.
• Report any suspicious loan recovery call to the cyber helpline immediately.

Don’ts

• Don’t install unknown apps from social media or forwarded links.
• Don’t grant unnecessary app permissions like access to gallery or contacts.
• Don’t share personal details or OTPs with anyone claiming to be an agent.
• Never transfer money to individual bank accounts as “processing fees.”

Every legitimate lending app must display its RBI-registered NBFC partner and complaint redressal details. Users should confirm these credentials on the official RBI website or visit the lender’s physical office if possible. Apps listed under Google Play’s “Personal Loans” policy section are pre-verified for basic compliance, while those outside it should be treated with caution.

• File complaints on cybercrime dot gov dot in or call 1930.
• Report the app on Google Play or App Store for policy violation.
• Submit a complaint to the RBI if the app misuses an NBFC’s name.
• Collect all communication records and payment proofs before filing a case.

• 💡 Keep financial apps updated and use antivirus tools regularly.
• ✅ Revoke permissions of unused apps from settings.
• 📉 Set transaction alerts for all UPI and card-based payments.
• 🎯 Avoid linking your salary account to lesser-known apps.

RBI and the Ministry of Home Affairs have repeatedly warned against illegal digital lenders. The Reserve Bank has also introduced stricter norms for digital loan apps, including mandatory disclosures and grievance mechanisms. I4C and CyberDost actively promote awareness on responsible digital borrowing through official campaigns and advisories.

Fake loan apps exploit urgency and vulnerability. Borrowers must check credentials before downloading any app or transferring funds. Legitimate lenders never access your contacts or demand repayment through threats. Protect your privacy, verify before you borrow, and rely on credible information from trusted sources like Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.