Google banned 2 thousand personal loan apps from Play Store, know what was the reason?

Google had reportedly banned 2,000 personal loan providers from its Google Play store in India from January to July 2022. The reason for this is said to be violation of Google’s policy by these providers. According to media reports, the company says the app take-downs were not linked to predatory loans, although the issue has forced government agencies and the central bank to tighten norms over the past year. The tech giant has also said that the company does not actively track whether the blocked loan apps or their developers are from China.

MoneyControl’s AccordingGoogle has blocked 2 thousand personal loans in India from its platform between January and July this year for violating the company’s policy. Saikat Mitra, senior director and head of trust and safety at Google Asia Pacific, said, “A large portion of loan apps were removed from the Play Store… I would say more than 50 percent of them were violating Google’s policies.” Were.”

Mitra further explained that Google is working with government agencies, media and user referrals along with its Artificial Intelligence/Machine Learning capabilities to penalize bad actors on its Play Store.

“This kind of problem can be more easily eliminated in Indonesia, where only government-certified apps can lend,” he said in his statement.

The company said the app take-downs were not linked to predatory loans, although the issue has forced government agencies and the central bank to tighten norms over the past year. The tech giant also said that the company does not actively track whether the removed loan apps or their developers are from China.

The same report noted that earlier this year, Google had announced that the company would require personal loan apps in India to meet additional proof of eligibility requirements.