Mumbai-based architect Jenis Makwana found something odd while poring over his late brother Abhishek’s emails. The younger Makwana had accumulated around Rs 1.8 lakh ($2,400) in loan debt. But that wasn’t the odd part.
At the last count, says Makwana, his brother had 72 different instant loan apps on his smartphone, most of which had lent him bite-sized loans between Rs 3,000 ($40.8) and Rs 10,000 ($136.2). These included apps such as SuperRupee, CoolRupee, KreditBear, SweetCash, Cashtime, and Cashvibe.
The lockdown had made things perilous for Abhishek Makwana, a writer who freelanced for a popular Hindi sitcom.