More than one in two Indian consumers who use instant loan apps are vulnerable to extortion and data misuse, as per a report by LocalCircles. How easy is it for instant loan apps to be available on the play store? Why is there no licensing requirement or legal authentication, or verification done on these digital lenders? As a customer how can you spot these fraudulent dial-a-loan apps and how does the RBI take prompt steps to curb the misuse? Dia Rekhi talks with Beni Chugh, Research Manager at Dvara Research, and Rajesh Narain Gupta, Managing Partner, SNG & Partners to figure out about this growing digital menace.