Twitter
Advertisement

State Bank of India cautions customers against using instant loan apps, SBI tips against fraud

Customers can use the safety advice provided by State Bank of India (SBI) to stay out of rapid lending app traps.

Latest News
article-main
FacebookTwitterWhatsappLinkedin
State Bank of India, India’s largest lending bank has shared a few safety tips for customers in order to avoid falling into rapid loan traps. Additionally, SBI urges people to report cybercrimes to cybercrime.gov.in. Chinese rapid lending applications are contentious, and the central government is adopting a number of measures to thwart these fraudulent apps.
 
The spread of rapid lending apps contributes to an increase in cybercrime, trapping borrowers in excessive interest rates and unethical loan extraction techniques. (Also Read: DNA Explainer: What is PM Vaya Vandana Yojana for senior citizens? Get Rs. 4,625 monthly for 10 years)
 
SBI has shared an infographic on its official Twitter handle and wrote, “Please refrain from clicking on suspicious links or giving your information to a company posing as a Bank or Financial company. Report cybercrimes at – http://cybercrime.gov.in.”
 
 
 
Here are 6 safety tips shared by SBI:
  1. It is better to verify an app's validity before downloading. Numerous unlawful apps have the potential to capture users and steal money from their accounts.
  2. You shouldn't click on shady links.
  3. It's best to avoid utilising unlicensed apps that might steal your data, as was already mentioned.
  4. To prevent your data from being stolen, check the app permission settings.
  5. You should alert the local police about any dubious money-lending apps.
  6. For all of your banking needs, go to http://bank.sbi.
Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement