BANGALORE - Ms Chetna Kadu panics every time her phone rings. For three months now, she has been receiving calls from unknown numbers at all hours of the day and night and her WhatsApp is inundated with ungrammatical messages in capital letters threatening to send her to jail. All of them demand the immediate repayment of a loan of 15,000 rupees (S$276).. Read more at straitstimes.com.
BANGALORE - Ms Chetna Kadu panics every time her phone rings. For three months now, she has been receiving calls from unknown numbers at all hours of the day and night and her WhatsApp is inundated with ungrammatical messages in capital letters threatening to send her to jail. All of them demand the immediate repayment of a loan of 15,000 rupees .
In one call, an abrasive Cash Bean representative accused Ms Kadu of using the lockdown as"an excuse". Hundreds of people like Ms Kadu have taken to social media in the past three months to complain about such cyber-bullying by app-based lenders. They say that loan collection agents hurl expletives on repeated calls, text abuses, send fake legal notices and police reports, and call the borrower's contacts to shame them.
After downloading the app, borrowers submit their unique digital ID or Aadhaar number, taxpayer ID, mobile phone number and a selfie or video for verification. They must give the app full access to their contacts and call logs. "In genuine cases, we provide moratoriums. But there are many who have cash flows but have no intention to repay," Ms Chauhan said.
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