The Ministry of Electronics and Information Technology (MeitY) has revoked bans on some digital lending apps including LazyPay and Kissht, Economics Times reported. Further, the ministry has issued orders to ISPs and Google to revoke the blockage enforced.
The websites for LazyPay and Kissht were blocked on Monday following an emergency order issued by the Ministry of Electronics and Information Technology targeting over 200 gambling and lending apps, most of which appeared to be operated from China.
The order was the result of a request from the Ministry of Home Affairs.
The development came after the lending platforms submitted documents to the government to support their claim that they were regulated players.
The information and technology (IT) ministry began the process of banning 138 betting apps and 94 lending apps on Monday under Section 69 of the IT Act.
“We asked the non banking financial companies (NBFCs) to give us a list of the apps they use for lending purposes. We have given that list to the government. And, the government has taken this step based on the list that we have provided,” said RBI Governor Shaktikanta Das.
It is also said that the IT ministry has provided the banned digital apps 48 hours time to submit documents to prove regulated play.
About 15 digital lending companies reportedly met MeitY officials in Delhi on Wednesday (February 8) to discuss the issue of the ban.