Mobikwik reinvested P2P lenders' money without their consent

[kunalchandak]

You won't lose money.. dont worry... Its just liquidity.. earlier when you withdrew they will give you back money from some other loan repayment which is what rbi has stopped.. u have to get money back from the people you have lent to.. hence the lockin and restrictions.. Only way to lose money is IF the loaner doesn't pay back.. So hang on.. all ir money will be returned.. RBI regulations.. + MOBIKWICK is IPO bound.. this is the last thing they want....

I have received first reply from RBI Nagpur office on the complaint i filed against Lendbox and Mobikwik and they are asking me to arrange the screenshots of previous Terms of their offering of 12% and anytime withdrawal, I don’t have those screenshots now, If you people have those please share with me it will be very helpful

 

[Sahil_07]

I have received first reply from RBI Nagpur office on the complaint i filed against Lendbox and Mobikwik and they are asking me to arrange the screenshots of previous Terms of their offering of 12% and anytime withdrawal, I don’t have those screenshots now, If you people have those please share with me it will be very helpful

My rbi complaint got closed.
Don't know why

 

[AlooDum]

Anyone got withdrawal option today?

 

[Sathishmani]

Anyone got withdrawal option today?

No, we can expect by tomorrow.

 

[HumorSimpson]

Anyone got withdrawal option today?

app shows , next withdrawal on 12th Nov.

 

[percolate]

Repayments are available now in the App and it will be automatically credited to bank accounts tomorrow.

 

[Sahil_07]

It looks like they have given the highest amount (mentioned in the repayment schedule) this time

 

[Ram1]

So we have to wait 24 months to claim our money fully?
Will they pay interest to locked amount?

 

[AlooDum]

anyone received amount in bank account yet??

 

[Ram1]

Not yet

anyone received amount in bank account yet??

.

 

[HumorSimpson]

anyone received amount in bank account yet??

expect it by 5pm as per earlier experience.

 

[sharad007]

this is becoming joke, they have given both sheet that they landed money and appox this much will return to your account even less then minimum amount is coming to account ..

 

[Ram1]

Got credited to my bank account by evening

 

[Ram1]

this is becoming joke, they have given both sheet that they landed money and appox this much will return to your account even less then minimum amount is coming to account ..

Yeah by the end of 24 months, we surely wont get full amount. 10% minimum would be lost. And no interest at all

 

[thisisjagan]

Are we receiving interest at all? Looks like they are not paying interest for the pending capital too.

 

[Sahil_07]

Are we receiving interest at all? Looks like they are not paying interest for the pending capital too.

They are giving interest as well

 

[Ram1]

They are giving interest as well

I got only for 1st month, next 3 month only principal received

 

[suhasa010]

Yeah by the end of 24 months, we surely wont get full amount. 10% minimum would be lost. And no interest at all

On what basis did you arrive at "10% minimum would be lost"?
Please explain.

And it looks like they have started crediting the repayments as soon as they arrive from the borrower.

 

[Ram1]

On what basis did you arrive at "10% minimum would be lost"?
Please explain.

And it looks like they have started crediting the repayments as soon as they arrive from the borrower.

I just assumed based on the difference between estimated payout and actual payout. There are thousands of borrowers in that list. Assuming 100 people go default, we might loose atleast 10% of principle.
No one is getting accountable neither lendbox nor mobikwik

 

[Ram1]

Anybody received payments this week?
Today i received 2 payments, yesterday 1.
They are small amounts