In an effort to disgrace the BJP-led central government, the Congress said on Tuesday that numerous Chinese apps had pocketed Rs 500 crore after tricking thousands of Indians into debt traps. The administration, according to the opposition party, lacks a plan to combat Chinese apps.
At a press conference, Congress spokesperson Gaurav Vallabh said, “An investigation between January and February 2021 found more than 1,100 digital loan apps available across play stores. The RBI has accepted that at least 600 such apps were operating illegally. As per the RBI, there was a jump of 12 times in loans on digital platforms between 2017 and 2020. Till now, 52 individuals in our country have committed suicide due to blackmailing by these loan apps.”
The leader of the Congress claimed that rumours have been spreading that Chinese loan applications are defrauding thousands of Indians through a debt trap operation.
The Congress spokesperson made reference to the border standoff in Ladakh and claimed that the Modi administration was failing in foreign diplomacy and lacked the confidence to even speak out against Chinese aggression.
According to Vallabh, the number of these Chinese apps has exploded after the COVID-19 outbreak that struck India in 2020. He claimed that the Modi administration had weakened the Indian economy and driven millions of people into poverty.
“This is one of the main reasons why the lower and middle-income groups are forced to resort to such debt propositions. The other reason is the gross misdirection of focus for central agencies.”