One of the indicators of genuineness is whether a lender wants to check your credit report before lending you money. Reputable lenders make it clear that they’ll need to look at your credit history prior to approving any loans.
Financial circumstances of consumers have depreciated as a result of the current Covid -19 crisis. It is estimated that Covid 19 will result in over 10 crore people losing their jobs and small business owners facing a cash crunch. According to a report by Credit Suisse in 2019, adults in India have an average debt of $1,345 (Rs 95,000). So, millions of Indians are downloading instant loan apps to make ends meet. Taking advantage of this, cybercriminals are using new ways to swindle mobile phone and computer users. Read more