Police in Hyderabad are cracking down on predatory practices of micro-lending applications, which are driving people to suicides and bankruptcy. These micro-lending apps push online advertisements offering to give loans to people in need of cash and then overcharge them with excess interest rates. In case of delays in loan repayments, the app companies have resorted to public shaming of loan applicants by sending messages to all of their contacts and calling them frauds. People who are unable to cope with this social pressure and shaming are resorting to extreme measures.  In this episode Digital Rights Activist, Srinivas Kodali speaks to Srikanth Lakshmanan of Cashless Consumer to explain to us how this entire industry works and to discuss consumer protections. 

Additional Reading:
Beware of illegal digital lending apps: RBI

Police in Hyderabad are cracking down on predatory practices of micro-lending applications, which are driving people to suicides and bankruptcy. These micro-lending apps push online advertisements offering to give loans to people in need of cash and then overcharge them with excess interest rates. In case of delays in loan repayments, the app companies have resorted to public shaming of loan applicants by sending messages to all of their contacts and calling them frauds. People who are unable to cope with this social pressure and shaming are resorting to extreme measures.&nbsp;&nbsp;In this episode Digital Rights Activist,&nbsp;<a href="https://twitter.com/digitaldutta">Srinivas Kodali</a>&nbsp;speaks&nbsp;to Srikanth Lakshmanan of Cashless Consumer to explain to us how this entire industry works and to discuss consumer protections.&nbsp;
Additional Reading: <a href="https://www.thehindu.com/news/national/be-wary-of-unauthorised-digital-lending-platforms-apps-rbi/article33404023.ece">Beware of illegal digital lending apps: RBI</a>

The Suno India Show’ is a news show by Suno India combining slow journalism with under-represented and under-reported stories. Covering the diverse range of topics like politics, technology, education and society, the host brings in informative interviews and engaging discussions with experts. The show not only shines a spotlight on stories that matter but keeps the listeners up to date with the latest national news.

The Suno India Show&rsquo; is a news show by Suno India combining slow journalism with under-represented and under-reported stories. Covering the diverse range of topics like politics, technology, education and society, the host brings in informative interviews and engaging discussions with experts. The show not only shines a spotlight on stories that matter but keeps the listeners up to date with the latest national news.

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