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@Phoenix_AlphaX
Jul 16, 2026, 06:48 AM
India's 'Loan Sharks' Devastate Chinese Online Lending Platforms: Do Only Chinese People Take Credit Scores Seriously?
Recently, Chinese online lending platforms ventured into the Indian market, only to encounter unexpected setbacks. According to reports, several Chinese online lending platforms have gone bankrupt in the Indian market, surprisingly due to the devastating attacks by India's 'loan sharks.' So, what are these 'loan sharks'? They are a group of Indian netizens who specialize in countering online lending platforms, using various tactics, including fabricating false information and launching malicious attacks, which have successfully hindered the operations of these Chinese online lending platforms in the Indian market.
What's even more ridiculous is that Indian netizens asked how much the credit score fees were per kilogram? This is a clear mockery of the Chinese online lending platforms. In China, credit scores are a crucial concept, and banks and financial institutions place great emphasis on customers' credit records. However, in India, the situation seems to be entirely different. The phrase 'I don't believe in credit scores' reflects the Indian attitude towards credit scores.
So, why do Indians hold credit scores in such disdain? The reasons may be multifaceted. Firstly, India's financial market is relatively underdeveloped, and the credit system is not yet perfect. Secondly, Indians may have low trust in online lending platforms, believing their credit records to be unreliable. In short, Chinese online lending platforms venturing into the Indian market must understand the local market environment and consumer psychology, or they will end up like this, battered and bruised.



