Raids on micro loan app firms in Hyderabad

The raids were in the wake of the suicide of a software professional last week, allegedly due to harassment by app-based loan firms.

Hyderabad: The City Police on Monday raided the offices of various app-based instant loan firms here on Monday. The raids were in the wake of the suicide of a software professional last week, allegedly due to harassment by app-based loan firms.

The police said several such instant loan firms had mushroomed during the lockdown. Over 100 petitions regarding harassment by micro loan apps were received by Hyderabad, Cyberabad and Rachakonda police in the last two days.

Victims, both men and women, were queuing up at the Cybercrime Cells of the three Commissionerates alleging harassment from the app executives and Non-Banking Finance Company managements.

The Hyderabad police raided app-based financing firms in Punjagutta and Begumpet and other places on Monday. Sources said officials have identified that most of the call centres of these app firms are based in Bengaluru, Gurgaon, Delhi and Mumbai.

Police teams from the State have also been sent to Delhi and other States to get information on the way the app firms function. Raids were on in Cyberabad and Rachakonda too, officials said.

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