New Delhi,27-12-2023 : The Indian government has taken a decisive step to combat fraudulent loan apps by instructing social media and online platforms not to host advertisements promoting such deceptive services, as announced by Union Minister Rajeev Chandrasekhar on Wednesday. The directive from the Ministry of Electronics and Information Technology emphasizes the imperative of preventing misleading advertisements that exploit individuals utilizing the internet.
Addressing the issue, Minister Chandrasekhar highlighted the crackdown on fraudulent loan apps, signaling a proactive stance in safeguarding users from potential exploitation. The advisory issued to platforms underscores the government’s commitment to ensuring a safe and trustworthy digital environment, particularly in the realm of financial services.
The Minister of State for Electronics and IT clarified that intermediaries, including social media and online platforms, are explicitly prohibited from carrying advertisements that promote fraudulent loan apps. This measure is aimed at curbing deceptive practices and protecting internet users from falling victim to misleading financial schemes.
On the evolving landscape of jurisprudence and the government’s approach toward fostering a secure and trusted internet, Chandrasekhar noted that the IT rules currently delineate 11 areas of prohibited content. The government’s proactive stance in addressing the issue of fraudulent loan apps aligns with broader efforts to enhance cybersecurity and consumer protection in the digital space.
As technology continues to advance, the government remains vigilant in adapting its regulatory frameworks to combat emerging threats and ensure the responsible use of online platforms. The directive to curb misleading advertisements is a step toward creating a more secure digital ecosystem and fostering confidence among internet users in India.