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On Saturday, the Enforcement Directorate (ED) continued its raids at six locations in Karnataka for a second day as part of an ongoing investigation into "illegal" rapid smartphone-based loans that are "managed" by Chinese individuals.

According to a statement, the raids were conducted on Friday at the Bengaluru locations of online payment gateways like Razorpay, Paytm, and Cashfree in accordance with the requirements of the Prevention of Money Laundering Act (PMLA), 2002.

At the time the report was submitted, the search activities were still going on.