MeitY to revoke ban orders on some digital lending apps, websites like LazyPay, Kissht

This comes on the back of online loan platforms submitting documents to the government to prove they are a regulated play.

One of the persons privy to the matter told that individual orders are being sent by MeitY. The person said, so far orders have been sent out for a few platforms including PayU-owned LazyPay and Kissht.

“MeitY has received documents from several platforms over the last few days, and has been scrutinising the submissions to ascertain whether the ban is necessary or not….We have arrived to the conclusion that some of these companies do not need to be blocked and therefore some ban orders are being revoked,” a government official said on the condition of anonymity.

On the revocation of the ban orders, Kissht founder Ranvir Singh said: “We thank the government of India and MeitY for revoking the order to block Kissht. The government has shown unrelenting support in ensuring that credible and fully compliant apps such as Kissht continue to work towards greater financial inclusivity in the country.”

“We have served more than 8 million Indians since 2017 and look forward to serving many millions more. Kissht continues to provide hassle-free credit with the objective of doubling our customer base in 2023,” he added.

ETtech had reported on Thursday that online lending companies that fall in a list of apps blocked by the Centre recently have started submitting documents detailing their shareholding structure to the government.The developments had come in the backdrop of the government issuing blocking orders for a clutch of digital lending apps, including those run by Indian companies, and not restricted to having Chinese links.

Also read | ETtech Explainer: why are quick-loan apps under the government scanner?