Apps promising quick cash have mushroomed in India amid the pandemic. Photo: Reuters
Apps promising quick cash have mushroomed in India amid the pandemic. Photo: Reuters
India

In India, string of suicides linked to digital loan sharks blamed for preying on the unbanked

  • Digital lending apps promising quick cash exploded in popularity across India and other developing economies amid the pandemic
  • Activists say they prey on unwary borrowers, with heavy-handed collection tactics and interest rates as high as 500 per cent linked to a string of suicides

Topic |   India
Apps promising quick cash have mushroomed in India amid the pandemic. Photo: Reuters
Apps promising quick cash have mushroomed in India amid the pandemic. Photo: Reuters
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