How a bunch of young Indian CEOs is taking on dark 'Chinese' lending apps

The term Chinese isn't country-specific but refers to shady lenders who trap borrowers with super high interest rates and threats of bodily harm when the money isn't repaid

As the pandemic pushed people towards economic desperation, shady lending applications mushroomed, trapping hapless borrowers with astronomically high interest rates and threats of bodily harm when the money was not repaid. 

These unscrupulous lenders, originating from various countries, including within India, are simply known as ‘Chinese Apps’. They are hard to stop despite the Reserve Bank of India (RBI) coming down hard on the non-bank financial companies (NBFC) supporting these apps from a deep-layered background. 

This is largely because borrowers themselves are not aware about the unscrupulous lending practices until it is too late, and those that are in the