By Press Trust of India | Updated: 10 February 2023
The government will revoke the ban imposed on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said on Friday.
The government last week ordered the blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service.
Sources said that the government will revoke the ban on LazyPay and Kissht that were in the list of banned websites and apps after representations were made by these companies.
The government will revoke the ban imposed on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said on Friday.
The government last week ordered the blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service.
Sources said that the government will revoke the ban on LazyPay and Kissht that were in the list of banned websites and apps after representations were made by these companies.
The government will revoke the ban imposed on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said on Friday.
The government last week ordered the blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service.
Sources said that the government will revoke the ban on LazyPay and Kissht that were in the list of banned websites and apps after representations were made by these companies.
Fintech firms mPokket, True Balance, and Kreditbee have denied any link with the banned platform.
“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,” Balancehero India- which operates True Balance, said.
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,” the company said.
mPokket too has said that the app in the banned list is impersonating it and the firm has no link with the blocked platform.
