Using shame, lending apps in India squeeze billions out of the desperate ...United Arab Emirates

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Hyderabad: The harassing calls began soon after sunrise. Kiran Kumar remained in bed and for hours thought about how he was going to end his hostage of a life. The cement salesman had initially borrowed about $40 from a lender through an online app to supplement his $200-a-month salary. But he could not pay the mounting fees and interest, so he borrowed from others. By that morning, Kumar owed roughly $4,000. Even worse, the lenders had the phone numbers of those closest to him and were threatening to make his problems public. “If I am labelled a fraud in front of everyone, my self-respect is gone, my honour is gone,” Kumar, 28, said in an interview. “What is left?” Authorities in India are

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