Worried at the growing toxic financial products and services on its Play Store in India, Google confirmed it has surveyed a lot of personal loan apps in India and got down several of them found to be corrupting its app policies on Thursday. The company confirmed that it has enquired the developers of all the remaining identified apps to ascertain that they comply with applicable local laws and restrictions in India. Frey said in a statement that all those apps that fail to do so will be eliminated without any further notice. Also, we look forward to assisting law enforcement agencies in their examination of this problem. There has been a rise in personal loan apps in India in recent months, laying the data of millions of users at threat.
Google further said that to help to assure that users are making the right choices, we only authorize personal loan apps with full reimbursement required in greater than or equal to 60 days from the date the loan is allocated. The tech giant worried that transparency of data around the features like fees, risks, and advantages of personal loans will help people make knowledgeable decisions by their financial desires, thereby lessening the danger of being exposed to misleading financial products and services.
To protect the privacy of the user, developers must only order permissions that are essential to enforcing recent features or services. They should not use approvals that give entry to the user or device data for the unknown, unimplemented, or prohibited features or objectives. Developers must also only use the data for objectives that the user has granted to, and if they later need to use the data for different reasons, they must attain the permission of the user for the additional uses as Google said.