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.

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.

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

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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. (This is a developing story. Watch this space for more.)