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Politicians from Tamil Nadu urge government to ban online lending apps

Politicians from Tamil Nadu have called for a ban of online lending apps in the wake of reports that employees of these apps are harassing customers on loan repayments. Such apps, known as pay-day loan apps, provide short-term loans at high interest rates. But they are unregulated entities and are not permitted to lend credit in the country. Atleast three people have died of suicide in recent weeks, after being harassed by employees of these apps. A 23-year old IT professional in Chennai killed himself after taking a loan from Rupee Bazaar. He had reportedly complained to the police about alleged bullying by the lender's employees. In an earlier case, a borrower from Tamil Nadu died of suicide after harassment by a representative from Udhaar Loan. Further, an MBA graduate from Visakhapatnam, Andhra Pradesh hung herself after borrowing ₹25,000 from various…

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