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India’s IT Ministry blocks websites of fintech firms operated by overseas entities

MeitY issued blocking orders on Saturday based on an emergency request issued by a nodal officer of the home ministry.

08 , February , 2023

In a recent development, the Ministry of Electronics and IT has blocked websites of fintech firms operated by overseas entities. According to sources, fintech firms LazyPay, IndiaBulls Home Loans and Kissht are among the list of blocked websites. The government has blocked 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service. 

As per the list, the Ministry of Electronics and IT (MeitY) issued to block lazypay.in which is a subsidiary of Dutch investment firm Prosus. The list includes www.indiabullshomeloans.com operated by housing finance company Indiabulls Housing Finance Ltd and Kissht.com which is operated by RBI registered NBFC firm ONEMi Technology Solutions Private Limited.

MeitY issued blocking orders on Saturday based on an emergency request issued by a nodal officer of the home ministry. These 138 betting and gambling websites and 94 loan apps were engaging in illegal money laundering and were posing threat to financial security of our nation," an official source had said. 

The other website in the block list includes buddyloan.com, cashtm.in, kreditbee.en.aptoide.com, faircent.com, true-balance.en.uptodown.com etc. 



(WITH INPUTS TAKEN FROM PTI)


 
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