News > Borrowing money from lending apps? Read this!

Borrowing money from lending apps? Read this!

The Reserve Bank of India has cautioned the public about borrowing money from shady digital lending apps.

Several borrowers have been forced to commit suicide owing to the harassment they faced after they delayed repaying loans. If your loan agreement is not with an RBI-registered entity, it's a big red flag. Note the interest rate, but also look out for other hidden charges. Be warned if any app is asking for access to more than the usual things.