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Mobikwik reinvested P2P lenders' money without their consent

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1 more day to go for judgement day. Lets hope we have more info tomorrow and Movikwik doesnt scam us again by gicing some next month's date as their systems are not yet upgraded as pwr new norms.

Will share whatever happens in my mobikwil accoutns tomrorow.
 
codenerd said:
1 more day to go for judgement day. Lets hope we have more info tomorrow and Movikwik doesnt scam us again by gicing some next month's date as their systems are not yet upgraded as pwr new norms.

Will share whatever happens in my mobikwil accoutns tomrorow.
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yes waiting. I had 8k+ interest too,dont know what will they do with that
 
Sahil_07 said:
yes waiting. I had 8k+ interest too,dont know what will they do with that
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I havr 3 acxs in family with 4.25,3.25,5 lakhs imvested.

Somehow the acxount with 3.25 lakh has arou. 10k i terest pending as shown right now whereas acxoutns with 4.25 and 5 lakhs are just showing intwresta. Crued as 1.5k.

I think this interwst is tht i terest which was already accrued ealrier which we didnt withdraw or else there is no logical. Explanarion bwhidm this interest calculation.

Also these interest amounts are u changed since 3rd September.
 
Mobikwik just finished updating the system and I found that they made available only 11% of total investment amount for withdrawal, which is not acceptable at all.
 
JSFinance said:
Mobikwik just finished updating the system and I found that they made available only 11% of total investment amount for withdrawal, which is not acceptable at all.
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they have lent your money.. who will pay back emi.. how will they return money they don't have.. that is exactly why rbi has kicked all if them.. u will have to be patient.. u will get all ur money with interest.. but not in one shot
 
yeah only 10% if total invested is available to withdraw with interest.
No clarity on the tenure of lock in for remaining amount which was invested without consent.
 
I have two questions
1.Have you guys got any interest?(Specially those who have withdrawn the interest amount)
2.Are you withdrawing the available amount?
 
For me withdrawal shows something like this

Invested - 1,10,000
principal repaid 11,000
interest realized 6,500

next repayment - 12th oct

repayments credited 17,500


So each month they are going to give us something from princ+interest like this. Not in % wise, but how our lenders borrowed.

I have withdrawn, shows 3 days to credit.



CC : @raghu.rokda - check if you are able to get out of this.
 
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HumorSimpson said:
For me withdrawal shows something like this

Invested - 1,10,000
principal repaid 11,000
interest realized 6,500

next repayment - 12th oct

repayments credited 17,500


So each month they are going to give us something from princ+interest like this. Not in % wise, but how our lenders borrowe.
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You must have got those 6500 as daily interest before Sept which you had not withdrawn, right?
 
Zacobite said:
they have lent your money.. who will pay back emi.. how will they return money they don't have.. that is exactly why rbi has kicked all if them.. u will have to be patient.. u will get all ur money with interest.. but not in one shot
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Yeah I know but they should have done this for any new investment and not on the existing investment.
Existing investments were for specific period like a month or 3 which were done keeping plans in the mind. They should have keep disbursing money as per the agreed product at the time of investment. I know we will get money back slowly and we as a lender has to suffer.
 
So no need to panic then, they are crediting back 12th of every month, whatever the borrowers have repaid. If we are lucky it could be recovered in 5-6 months else an year or so.
 
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