Government Receives Whitelist of Loan Apps from RBI Governor Shaktikanta Das, Non-Compliant Apps to Face Repercussions

RBI Shares Whitelist of Loan Apps

Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the central bank has shared a whitelist of lending apps with the Centre. The list was compiled from loan apps used by regulated entities such as banks and non-banking financial companies (NBFCs).

Action Against Illegal Loan Apps

The Union IT Ministry is expected to take action against illegal loan apps that are not included in the whitelist. This move is aimed at curbing the rapid growth of fraudulent firms in the digital lending market.

The Impact of Illegal Loan Apps

The illegal lending market is estimated to be at least $700-800 million. There have been around a dozen cases reported since 2020 where individuals caught in the trap of illegal loan apps had allegedly died by suicide.

RBI and Government Collaboration

The RBI and the government are actively engaged in coordination meetings to take appropriate measures against illegal lending apps. The RBI’s submission of a whitelist to the government followed a high-level meeting chaired by Finance Minister Nirmala Sitharaman in September 2022.

Future Measures

The IT Ministry, prompted by an investigation, directed social media platforms to take “additional measures” to ensure that they don’t host advertisements of fraudulent loan apps. The consequences of hosting such advertisements will be the “sole responsibility” of such intermediaries/platforms.

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message