The Indian government has issued an advisory to prevent the advertisement of illegal loan and betting apps that can scam and mislead users. The advisory emphasizes the responsibility of intermediaries/platforms in ensuring the safety of digital citizens. The Ministry of Electronics and IT has urged the Reserve Bank of India to implement a more comprehensive Know Your Customer (KYC) process for banks, known as ‘Know Your Digital Finance App’ (KYDFA). The advisory also highlights the need for robust grievance redressal mechanisms.
