*Government Plans to Ban Fake Loan Apps and Unapproved Lending* The Indian government is planning to bring a new law that will ban any lending activity (like giving loans) that is not approved by the Reserve Bank of India (RBI) or any other legal authority. *💡 Why this law is needed?* • Many fake loan apps are giving loans without any permission. • These apps often trouble people to repay the loans and use bad methods to recover money. • To protect people from fraud and harassment, the government wants to stop these illegal lending activities. *📅 When will the law come?* • The bill may be presented in the Parliament’s Monsoon Session (July 21 to August 12, 2025). *📌 Important Points:* • Personal loans from family members will not be banned. • The government wants to ensure only licensed companies (like banks, NBFCs) give loans. • Google has already removed 2,200+ fake loan apps from its Play Store between Sept 2022 to Aug 2023. • Some states may change their laws to support this new rule. 🧾 Other Related News: • Another bill (Insurance Amendment Bill) is also being planned to allow 100% foreign investment in insurance, up from the current 74%.