Andhra CM orders stringent action against app-based lenders

Amaravati, Dec 22 : Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy on Tuesday directed officials to take stringent action against app-based money lenders, who charge exorbitant interest rates.
“Take stringent action against those lending money through online apps at exorbitant interest rates and harassing borrowers,” Reddy said.
These apps have rocked the Telugu states of late, driving a few borrowers to commit suicide as they were harassed to repay the loans.
In Telangana, police rounded up some people suspected to have been operating these apps.
Reddy also announced ex-gratia to the families of two girls who committed suicide in Guntur and Prakasam districts.
He announced Rs 10 lakh ex-gratia to the family of Sowmya, a Class 10 student who committed suicide in Korrapadu. A video has emerged in which Sowmya said she committed suicide due to sexual harassment.