You all must have seen the ads of loan apps on Facebook and Instagram. Meta shows these ads for money so that people who need money can take loans through these apps. However, there are many such apps available on the platform which misguide people at the time of loan and later charge more money as repayment. There are many apps which collect personal information of users like contacts, financial details and messages etc. on the pretext of loan. Fraudsters also promote such loan apps on Facebook and steal the hard-earned money of common people.
Ads of fake loan apps will not be visible
To save common users from this and to ensure that Facebook and Instagram do not advertise such fake loan apps, the government is going to make some changes in the IT rules. Minister of State for Electronics and IT Rajiv Chandrashekhar said that the government will make new rules for companies like Facebook and Instagram to stop the distribution of fake loan apps. If any platform distributes such apps against the rules, the government will take action against it. According to reports, the government can implement this rule after the upcoming general elections. In the new rule, the government may ask social media companies to keep some important points in mind before promoting such apps.
The Electronics Minister further said that the IT Ministry has been discussing this issue with the Reserve Bank of India for several months, but we have recently intensified our efforts to find a solution to this problem. Let us tell you, recently, RBI Governor Shaktikanta Das announced that the central bank has shared a list of loan giving apps with the Government of India so that action can be taken against fake apps and people’s money can be saved. >
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