Regulatory Challenge - Unveiling the truth behind Kissht Banned

regulatory-challenge-unveiling-the-truth-behind-kissht-banned

It remains extremely challenging for any business to overcome any misinformation that creates doubts in users' minds. We all know how some comments, posts, and stories get viral in today's fast-paced digital era. There's no doubt that social media is one of the most essential sources to get updated with crucial information, but sometimes, brand reputation suffers a lot when it gets misused. Today, fintech is among the fastest-growing industries across the globe, and the way fintech companies are achieving growth is amazing. They often face certain regulatory challenges, including data privacy, money laundering, cyberattacks, etc. However, leading fintech apps like Kissht have already created strategic plans to adopt innovative measures to eliminate the risk of these challenges, and some users still pay attention to baseless information, gossip, and rumors related to Kissht Crackdown. Although many of Kissht's customers know about the seamless working efficiency of the app, it needs to be clarified for others to trust it. In the current context, we've decided to unveil the truth behind the rumor about Kissht Banned. First, evaluating where all the fake information has been generated becomes essential. And most importantly, it also becomes important to find out whether the entire story is fabricated or if there is any reality behind it. The discussion below will help discriminate against all such doubts and give customers a clearer view of judging the app's credibility.

Was Kissht App ever banned or not?

The answer to this question is the root of the problem, and the solution to all the confusion also lies in it. The app got banned, but only for a couple of hours. It started working seamlessly within a few hours, and no app operations were affected by this course of action. Kissht instantly resumed its lending activities by offering clients enhanced experiences. Throughout the entire instance, no issues were found that caused customers to face any challenges when the app resumed operations after revoking the ban.

Why did the app get banned?

In India, regulatory bodies take special care in ensuring that all financial organizations follow all the mandatory guidelines and instructions. They often conduct various inquiries to ensure all platforms follow the rules, and if they find anything suspicious, they take strict action against such companies. Around a year ago, an investigation was conducted through a regulatory body to ensure that all the loan apps are working ethically and have collaborations only with certified and trusted NBFCs in India. During the investigation, they found 232 apps guilty of having connections with China-originated business entities. The agency took immediate action against all such faulty apps and immediately banned them. Some apps were erroneously interpreted in the list of guilty apps due to similar sounding names with faulty apps. The same error also included Kissht's name in the list. Consequently, the app got banned, and the rumor of Kissht Crackdown was highlighted everywhere.

How did Kissht react to this bizarre situation?

It was a complete mistake because the app's reputation was at stake, and hence, an emergency meeting was arranged instantly to overcome this challenging situation. Kissht officials submitted the required documents to the investigation agency, and the ban was revoked instantly when Kissht was found to be authentic. But a lot had happened by then, and the misinformation about Kissht Banned went viral over social media. Although the app wasn't involved in such suspicious activities nor had any connections with any China-originated business entities, it still suffers from the consequences of this misinformation.

Please be alert while paying attention to every piece of information you encounter. Try to evaluate its authenticity and explore customer feedback, user reviews, etc., to assess how capable a platform is. It's better to ignore such fabricated stories and trust in the brand reputation because it is earned after providing customers immense satisfaction and exclusive facilities. Kissht is among India's leading digital lending fintech portals and is renowned for offering magnificent loan offers. Kissht offers instant personal loans of up to Rs. 5,00,000* for flexible repayment tenures of up to 36 months. Available with higher approval rates, these loans come with low-interest rates starting @ 14 percent. Rather than wasting time reading misinformation or baseless rumors, act smart and avail yourself of life-changing financial opportunities.