ED attaches Rs 859 cr proceeds of crime in illegal loan app cases: Centre

The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday.

Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999.

In a written reply to a query in Rajya Sabha, Karad said Reserve Bank of India (RBI) has furnished the list of Digital Lending Apps (DLAs) being used by regulated entities of RBI to the Ministry of Electronics & Information Technology (MeitY).