In Bengaluru, the Central Criminal Investigation Department (CID) has registered a case against a company for threatening a borrower and pushing him to suicide who had registered himself in their app for getting loans.
Vivek, a youth from Palayanur, Chengalpattu district borrowed ₹4,000 from an app and was unable to repay it on time. The app company involved had intimidated Vivek following which his friends had posted content taunting him. Unable to bear insult, he jumped into the well and committed suicide.
The police have registered a case against the app company under three sections and are investigating the complaint lodged by him for threatening to pay more interest.
Notably, in the past couple of weeks, three persons including a jobless techie and an agriculture extension officer have ended their lives allegedly owing to harassment from representatives of such apps over repayment of loans. Officials have stated that there are at least 60 such loan apps available on Google Play Store that ar not registered or recognized by the Reserve Bank of India as an NBFC making their operations were unlawful.