Government issues cybersecurity warning, advises people to avoid installing unknown apps
New Delhi: The Indian government had advised people to stay away from instant lenders based on mobile applications, which could compromise their privacy and cause them trouble. An awareness campaign, launched by Cyber-Dost, the Twitter account operated by the Union Ministry of the Interior, posted some safety tips to keep in mind before applying for a loan. He asked borrowers to verify authenticity from the Reserve Bank of India Loan Company (RBI) website. The RBI portal contains all the information about companies.
Cyber Dost’s Twitter account asked people to be vigilant before installing unknown applications on their cell phones who offer a loan. He said it could put users’ confidential data and finances at risk. He also asked users to verify the authenticity of the URL website before submitting documents or making payments.
– Cyber Dost (@Cyberdost) December 14, 2021
RBI has also warned people against lending from unauthorized digital platforms, with mobile apps promising a quick and hassle-free process. The central bank has made it clear that legitimate loans can be offered by banks, non-bank financial companies registered with the RBI, and entities regulated by state governments.
Companies link to cheap loans and low CIBIL score to lure people into their trap. The link has a provision for downloading documents, which opens up the possibility of their misuse.
The government informed parliament during the current winter session this week that there are 600 bogus loan applications in the country. The data is based on a report submitted by the RBI.
(With PTI inputs)