India’s IT Ministry has lifted the ban on seven high-profile lending apps including PayU’s LazyPay, Kissht, KreditBee and Indiabulls Home Loans, according to a person familiar with the matter, providing some relief of the fintech industry that has been reeling with immense scrutiny in recent quarters.
On Friday, the IT Ministry also lifted the ban on BuddyLoan and Faircent, according to a copy of the order seen by TechCrunch. The ban was lifted after the firms justified that they did not have Chinese influence on their cap tables, the person said.
India has pushed to ban over 90 le
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India lifts ban on PayU’s LazyPay and some other lending apps
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