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Razorpay, Paytm told to block transactions for Chinese instant loan apps in India

Megha Jain

Content Head
Image Credit: shortpedia

As scrutiny mounts over India’s instant loan apps crisis, the Enforcement Directorate (ED) and Criminal Investigation Departments (CID) of various state police forces will reportedly investigate more than two dozen such apps which have Chinese handlers. The investigating authorities have also directed payment gateways such as Razorpay and Paytm to stop processing transactions through these apps.