Good morning [%first_name |Dear Reader%],

Chinese smartphone maker Oppo has already got the call from India’s Directorate of Revenue Intelligence (DRI). The agency, after conducting searches of Oppo India’s office premises and homes of its key management personnel, said last week that it has detected customs duty evasion of nearly Rs 4,389 crore (~US$550 million) by Oppo India. 

While Oppo is busy fielding that call, Arundhati writes, there’s another one it should be equally wary about receiving—and that’s from the Reserve Bank of India (RBI). (A hat tip to Anubhaw Kumar, a Ka-Ching! reader who first told us about this.)

Anand, meanwhile, has a quick breakdown on why borrowing to invest in real estate can be a double-edged sword. 

Let’s get started! 

Debt on dial

It’s been pretty obvious for a while now that India’s banking regulator has been keeping a close eye out for any funny business in the digital lending space. 

The one thing that seems to have escaped the RBI’s radar are loan apps promoted by smartphone makers—think Mi Credit by Xiaomi or Oppo’s Finshell.