Dear Reader, When digital lenders approached Hyderabad-based techie P. Sunil in hordes, assuring him of easy cash, he installed as many as 35 apps on his smartphone to raise small-ticket loans totalling up to INR 2 lakh. He needed the money to service his EMIs after losing his job. But when he defaulted on these digital loans, recovery agents shamed him before friends and family as the apps had unfettered access to his contact list and call logs. Unable to face the humiliation, the techie put an end to his life as a police probe revealed. And it is not... This is an Inc42 Plus Member Exclusive story. Read this story on Inc42.
Dear Reader, When digital lenders approached Hyderabad-based techie P. Sunil in hordes, assuring him of easy cash, he installed as many as 35 apps on his smartphone to raise small-ticket loans totalling up to INR 2 lakh. He needed the money to service his EMIs after losing his job. But when he defaulted on these digital loans, recovery agents shamed him before friends and family as the apps had unfettered access to his contact list and call logs. Unable to face the humiliation, the techie put an end to his life as a police probe revealed. And it is not... This is an Inc42 Plus Member Exclusive story. Read this story on Inc42.