New Delhi: Google has said that it is updating its personal loan policy, in which it will block personal loan applications from accessing user contacts or photos. “We’re updating our personal loan policy to state that apps that provide or facilitate personal loans cannot access user contacts or photos,” Google said.
“Apps that provide personal loans, or have the primary purpose of facilitating access to personal loans (i.e., lead generators or facilitators), are prohibited from accessing sensitive data, such as photos and contacts,” it added. .
The tech giant on Wednesday implemented new restrictions in its personal loan policy to bar access to external storage, photos, videos, contacts, precise location and call logs for apps on the Play Store. The company said that this change will be effective from May 31. Google also outlined additional requirements for personal loan apps in India, Indonesia, Philippines, Nigeria, Kenya and Pakistan. In India, companies will now be required to complete a personal loan app declaration and provide necessary documents in support of their declaration, for example, if they are licensed by the Reserve Bank of India (RBI) to provide personal loans, Then they must submit a copy of their license for review.
In March, Google removed hundreds of loan apps from its Play Store in Kenya because of a new policy requiring digital lenders to submit proof of license in the East African country, which came into effect in January. Back in 2021, Google reviewed hundreds of personal loan apps in India and found many of them violating its app policies. The company said it has asked the developers of the rest of the identified apps to demonstrate that they comply with local laws and regulations applicable in India.