Loan Apps: Have you fallen prey to loan apps? Nitin Kamath of Zerodha revealed a way to avoid it

Unforeseen circumstances in life sometimes ruin people financially. In such a situation, people resort to loans. However, sometimes it becomes so severe that people kill not only themselves, but also their entire families. Recently, such a case has been seen in Bhopal and Bengaluru. Nitin Kamath of Zerodha has given good advice on such matters.

There is a law to protect the victims

Nitin has been tweeting one after another on this matter. He warned people to stay away from all illegal loan apps. If for some reason you have fallen into the trap of such loan apps and are being harassed by loan app companies, take legal recourse. Nitin says to all those who are troubled by the loan app that the law is there to protect you.

Even after the crackdown, the app is not closed

This tweet by the co-founder of Zerodha is not accidental. The number of loan apps in the country has increased rapidly in the last few years. Especially after the corona epidemic, the financial condition of many people got worse and they fell into the trap of loan giving apps. After that started a series of endless harassment. Many people were forced to commit suicide due to various types of blackmailing. In view of such cases, regulators and law enforcement agencies like the Reserve Bank took strict action and managed to curb it to some extent, although it has not stopped completely and people are still falling prey to loan apps.

These 2 cases have come up recently

In the case of Bhopal, a man ended his life along with his wife and children after being harassed by loan app agents. A similar incident also came to light in Bangalore, where a 22-year-old engineering student committed suicide. Both the cases related to loans taken from the app, where the victims were blackmailed by agents of the loan app as they were unable to repay the loan. Thousands of such cases have surfaced post-Covid.

This is how you can complain

Nitin tells loan app victims that if you too are being harassed, know that there is a law in the country to protect you. If agents of such illegal loan apps are bothering you, file a complaint on the government’s National Cyber ​​Crime Portal. The portal facilitates the victims and victims to file complaints online. Nitin also suggests calling 1930.

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