Government will revoke the ban impose on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said. The government last week order the blocking of 232 apps operate by overseas entities, including Chinese, for being involve in betting, gambling and unauthorise loan service.
Sources said that the government will revoke the ban on LazyPay and Kissht that were in the list of ban websites and apps after representations were made by these companies.
A senior government official confirm the development.
Ministry of Electronics and Information Technology (MeitY) issue blocking orders on Saturday, base on an emergency request issue by a nodal officer of the home ministry, against 138 betting and gambling websites and 94 loan apps that were engaging in illegal money laundering and posing a threat to financial security of the country.
Fintech firms LazyPay, IndiaBulls Home Loans, and Kissht were among the list of block websites.
As per the list, MeitY issue orders to block lazypay.in, which is a subsidiary of Dutch investment firm Prosus.
The website www.indiabullshomeloans.com is operate by housing finance company Indiabulls Housing Finance, while Kissht.com is being operate by RBI-registered NBFC ONEMi Technology Solutions.
The other websites in the block list include buddyloan.com, cashtm.in, kreditbee.en.aptoide.com, faircent.com, true-balance.en.uptodown.com, and mpokket.en.aptoide.com.
Fintech firms mPokket, True Balance, and Kreditbee have denied any link with the ban platform.
Banned Loan Websites, Apps Given 48 Hours to Prove Their Genuineness: MeitY
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for more news visit https://t.co/98KV4yIZka#2YoDoINDIA #Apps #Websites #WebsitesBan pic.twitter.com/a1G217qeu0
Balancehero India which operates True Balance, said :
“The reference of TrueBalance in the media story which mentions Meity’s target list of digital lenders is a clear case of impersonation. There is a proxy app present on the app store Uptodown with which we (TrueBalance) hold no direct or indirect connection. We hereby clarify that hitherto we have not received any official communication from the ministry”.
Similarly KreditBee said Aptoide is a third-party App Store, with which it has no formal or informal partnership.
“We are speculating that it’s a proxy app on Aptoide, and investigating this further. Blocking of the Aptoide link is a favourable outcome for us,” as per company.
mPokket too has said that the app in the ban list is impersonating it and the firm has no link with the block platform.
