Hyderabad: Six persons including CEO of a Loan app company, arrested by cyberabad police. Cash Mama, Loan Zone, Dhana Dhan are some of the loan apps run by Onion Credit Pvt Ltd, run by the accused. 35% pa interest charged from the loan applicants who cleared loan on time. Huge penalties imposed on defaulters. 18 bank accounts having ₹ 1.52 Cr deposits operated by the accused firm, frozen by cyberabad police.
Activities of the loan app are spread all over the country. In depth investigation is in process, Notices served to 9 NBFCs with which the apps run by the accused firm have tie up, Written to Google Play to find out the procedures followed & the guidelines to host these Loan App says Cyberabad CP VC Sajjanar.
Loan app operated by the accused firms, disbursed loan to 1.50 Lakh customers and at present have 75,000 active customers, These Online Loan App Came into the Picture When an techie Commited Suicide due to Harassement by this Loan App Providers.
