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US First Lady Melania Trump bids farewell

Melania in a video message said, "Be passionate in everything you do but always remember that violence is never the answer and will ne ...
The Economic Times
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| 19 January, 2021, 06:49 AM IST | E-Paper
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    Debt trap: Inside the world of shady digital lending apps, which promise a loan in a minute

    According to fintech industry sources, several lenders simply register an entity under the Companies Act, develop an app and start commercial lending. They peddle 7-30-day loans at high-interest rates — often 200-500% annualised. Most of these apps, recent investigations by NGOs and advocacy groups like Cashless Consumer reveal, are Chinese white-labelled apps with Indian names. The apps are mostly hosted on Chinese servers.

    Banks rely on farmers for new loans

    Economists attribute this trend to farm sector doing better than the urban-centric sectors like industrie...

    RBI constitutes working group on digital lending

    The Reserve Bank of India (RBI) on Wednesday said that it has constituted a Working Group on...

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