A big percentage of instant loan apps have actually the exact same pc software backend вЂ“ but various frontend branding.
Chinese investors then bring these apps to Asia with proxy directors.
Bhumana Prasad, a resident of Hyderabad, took that loan of Rs 3,500 from вЂMy BankвЂ™ вЂ“ a digital financing software вЂ“ in November 2019. Within per week, he repaid the total amount along side interest, and very quickly, took another micro-loan, of Rs 4,400, through the exact same application. Read More