Demonetisation anniversary: Cong demands white paper from Modi govt
Congress spokesperson Gourav Vallabh

New Delhi: The Congress on Tuesday alleged that several Chinese Apps have siphoned off Rs 500 crore after duping lakhs of Indians through debt traps and accused the government of having no strategy to tackle them.

Congress spokesperson Gourav Vallabh claimed that an investigation between January and February 2021 found more than 1,100 digital loan apps available across play stores and claimed the RBI accepted that at least 600 such apps were operating illegally.

“As per RBI, there was a jump of 12 times in loans on digital platforms between 2017 to 2020. Till now, 52 individuals in our country committed suicide due to blackmailing by these loan apps,” he told reporters.

“The incompetence of the central government and agencies has led to multiple cases of suicides due to such debt traps. Chinese loan app companies have siphoned off Rs 500 crore from India through the hawala route. There has been no strategy, no focus by the Modi government in evaluating priorities. Certain Chinese apps were banned in 2020 but the action on such apps has been lackluster,” he said.

Vallabh also accused the Modi government of lacking the courage to even talk against the Chinese aggression.

“The government has completely surrendered when tackling international conspiracy and aggression against us,” he alleged.

Claiming that it has been two years since the news emerged of Chinese loan apps duping lakhs of Indians through conspiracy of debt trap, he alleged the Modi government has weakened the Indian economy pushing millions into poverty.

“When ED and other agencies visit each and every opposition leader, why were they sleeping when at least Rs 500 crore was siphoned off from India by these Chinese loan apps,” the Congress leader asked.

Noting that several lives have been lost due to harassment by these money lending apps, he asked, “What is the Modi government waiting for to act on such apps?”

He also termed the RBI as clueless.

“Does the Modi government want an India with its citizens and data being controlled by the Chinese government? How come these Chinese loan apps are able to operate in our country,” he said.

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