The Commissioner of Police, Cyberabad Commissionerate V.C. Sajjanar, IPS., had an interaction and detailed discussion with the Regional Director, RBI Smt. K. Nikhila, and other officials in the Regional Office of Reserve Bank of India, Hyderabad on the misuse of Online Applications by the NBFCs and other entities in the name of instant personal loans. DCP Crimes Smt. Rohini Priyadarshini, IPS., Cyberabad explained the Modus Operandi of these online loan applications.
These applications are developed by companies that have an agreement with various NBFCs and others. The RBI officials highlighted the recent Press Release issued by them wherein the members of the public were cautioned not to fall prey to the activities of unscrupulous elements but to verify the antecedents of the company/firm offering loans online or through mobile apps.
Mentioning that the names and addresses of the NBFCs registered with the Reserve Bank can be accessed on RBI’s website, the officials suggested that the public can report information about unverified/unauthorized apps to the concerned law enforcement agencies or use RBI’s Sachet portal (https://sachet.rbi.org.in) for filing on-line complaints. Complaints against the entities regulated by the RBI can be accessed through RBI’s Complaint Management System (https://cms.rbi.org.in).
Cyberabad Police also appeals to the public not to fall prey to these online instant loan apps and if there is harassment, contact Cyberabad police through dial 100 or WhatsApp number of Cyber Crime PS 9490617310 and not to resort to extreme steps.
