₹60,000.Experts said these lenders have raised money from multiple investors and are under pressure to recover loans during the pandemic.“Invading the privacy, calling up contacts, in my view, amounts to defamation as these actions have no legal backing.
Having said that, there is also a lot of investor pressure on these app-based lenders and they are worried about recovery of their loans," said Sonam Chandwani, managing partner, KS Legal and Associates.Chandwani said these companies have also increased the commission they used to pay their recovery agents to try and recover loans during the lockdown.