With the rapid growth in the financial technology sector, digital lending is constantly emerging as the biggest factor to boost and re-energise the Indian economy. Leading Indian lending platforms like Kissht are constantly driving borrowers to the brink. But amidst all this good news, some rumours are spoiling the whole atmosphere.For some time, borrowers are in a position of uncertainty and are confused about whether to believe in Kissht Crackdown news or not.
Although, this well-known, trusted and credible Indian lending app came under scrutiny erroneously, the government itself gave it the clean chit. Today, we’ll explore the entire truth about this news. The report has been prepared by conducting thorough research after having detailed discussions with MeitY officials.
Discussion on Kissht Crackdown with MeitY officials
Actually, the Ministry of Electronics and Information Technology (MeitY) was receiving numerous complaints regarding malpractices in the FinTech sector. There were reports related to extortion, abuse, threats, financial losses, security issues related to sensitive information etc. They immediately decided to form a committee to further look into the matter. The committee then started its investigation and found that there were 138 betting and 94 loan apps having links with China. They were also violating the norms set by MeitY and were proving to be a threat to our financial security. According to Kissht News, the platform was earlier asked to submit some important documents to MeitY. It remained unclear if the highly credible and trusted leading platform like Kissht is also a part of the same list that has been alleged for either having links with China or being involved in any kind of money laundering process.
The intention of the government was to consider the legality of these platforms, the validity of their licenses and whether these platforms are complying with RBI’s audits and inspections. MeitY officials didn’t find anything suspicious, faulty or misleading in the documents submitted by Kissht Loan. All the papers were completely validated and proved that the platform is not violating any norms set by RBI. The committee then decided to give Kissht and 6 other apps to provide relief to these fintech platforms from the conduct of their investigation. Immediately, when the committee was preparing the final list to alleged 138 betting and 94 loan apps for violating RBI’s norms, it had pressurized to submit the report as soon as possible. And, in the meantime, the error happened. Due to similar-sounding apps, Kissht’s name was entered in the list of alleged platforms erroneously.
Kissht- The most credible FinTech platforms
Right by mistake but as a result of this, Kissht had to face this ban only for a few hours. As soon as the MeitY officials realized their mistake, they immediately revoked the blocking orders. They also released a media report to confirm that fintech players like Kissht are relieved in the matter and are still one of the most credible FinTech platforms. They decided to do so when Kissht and other non-guilty platforms submitted their presentations into the matter. The MeitY officials said to the media that all this had happened due to some similar-sounding apps and it occurred erroneously. They also clarified that all these 7 Indian lending apps including Kissht are truly following all the legal norms set by RBI and are offering magnificent lending solutions to all their clients.
Later, we moved on to our investigation to check how the customers are reacting and what Kissht reviews on this matter are. We got amazing replies from numerous Kissht clients where they have expressed that the platform is a next-generation FinTech solutions provider. Some have explored how they got amazing experiences every time they use this platform. It is the best digital lending app that enables users to get instant and seamless credits. When some users were asked to express their opinion on the matter they smiled and thanked the government to support their most loving FinTech platform. Customers had also advised the government that negligence in such serious matters can cause massive reputational damage to someone that is highly credible and trusted. The officials need to remain careful and should apologize to the company.
In a nutshell
The officials also reacted later on and expressed the Indian lenders who shared their Kissht Reviews. They release the official statement that the inconvenience is deeply regretted and we assure the lenders to support genuine and credible FinTech players like Kissht in the future. These are credible and fully compliant apps and all digital lenders can continue using their seamless credit solutions. They are working towards greater financial inclusivity in the country and the government appreciates the efforts they are making. So, this is all we have to tell our audience about Kissht Crackdown in India.
