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Showing posts from October, 2023

Unveiling the Predatory Practices of Digital Loan Companies: A Spotlight on mPokket

In recent years, the proliferation of online digital loan companies in India has brought about a paradigm shift in the lending landscape. These platforms promise accessibility, convenience, and quick financial relief to those in urgent need. However, beneath the surface lies a dark reality - a reality of exorbitant interest rates, hidden charges, and a debt trap that ensnares the vulnerable. Today, we shed light on one such entity - mPokket. The Dark Side of Digital Loans As the digital loan industry burgeoned, it brought with it a host of issues. One major concern is the exorbitant interest rates that these companies impose, often surpassing legal limits. Additionally, hidden charges are camouflaged in the fine print of lengthy terms and conditions, leaving borrowers unaware of the true cost of their loans. To make matters worse, aggressive debt collection practices, bordering on harassment, have become distressingly common. ### Case Study: mpocket **Background:** Mpocket is one of th