Two days before, in an expected turn of events, the government of India imposed an app ban on 59 apps developed by Chinese companies. This includes many famous apps like TikTok, Shareit, UC Browser, We Chat, Shein. The step was taken just a day before the round three of talks between the military commanders of the two countries regarding the border stand-off. p
This move against these harmful, malicious apps was taken by the government after several complaints regarding issues like data stealing, and privacy breaching were made. This data was invariably transferred to sources outside of India and could be used with an ill intent to harm the users.
The step will also be in line with the “Vocal For Local” and “Made in India” initiatives launched by the Government. The step will also help in accelerating the growth of many local, home grown brands in every sphere including clothing, entertainment and even social media.
Since the Chinese app market is so huge, all investors are understandably concerned if this ban will lead to any damage to their investments. Let’s debug how your investments will be affected by this step.
How Will Your Mutual Fund Investments Be Impacted?
As far as the investment sphere is concerned, we have got great news for you. Your investments are safely invested in SEBI approved mutual fund schemes that have further invested in securities.
Since, your mutual funds investments are safely done in the domestic markets that means that the Chinese ban won’t be impacting any of your investments.
Sqrrl – Proudly Indian!
We, at Sqrrl, are proud to tell you that we are purely desi! Based out of Gurgaon, all our partners and investors are based out of India too.
We, as an app, adhere to rigid data and privacy laws for the benefit of all our customers. All your data is safely kept with us as we stand strongly against selling your data to any third parties.
All your investments are done in SEBI regulated domestic mutual funds. Start an SIP, set up a goal, invest a lump sum – save and invest with us today!