Digital lending apps promised instant loans and financial convenience. Instead, many borrowers are falling into devastating debt traps.
In this audio, Sucheta Dalal explains how app-based lenders are charging exorbitant interest rates, trapping borrowers in endless EMIs and using aggressive recovery tactics. From hidden charges and misleading APR disclosures to harassment, blackmail and regulatory loopholes, the crisis is growing rapidly across India.
The cases highlighted by Moneylife Foundation reveal how ordinary salaried workers, professionals and delivery executives are drowning in debt far beyond their repayment capacity.
Watch this detailed analysis on India’s digital lending crisis, RBI regulations, NBFC partnerships and the urgent need for stronger enforcement.
","author_name":"Debashis Basu & Sucheta Dalal"}