Mobikwik xtra a

[Sathishmani]

Time to withdraw money from MobiKwik. Feeling unsafe now.

 

[percolate]

Time to withdraw money from MobiKwik. Feeling unsafe now.

The RBI rules does makes sense and it only helps us more. What's there to feel unsafe?

 

[suhasa010]

The RBI rules does makes sense and it only helps us more. What's there to feel unsafe?

Yes but at the end user level it increases risk, as RBI rules state that the intermediary should not assume any risk, hence no escrow account. Thereby implying that only if the borrower repays you'll get your money back.
And the announcement by mobikwik seems like you can only withdraw the amount which the borrowers keep repaying and not all at once.
I am quite worried as to whether they will allow us to opt out once and for all and get all the money back.

 

[Sathishmani]

The RBI rules does makes sense and it only helps us more. What's there to feel unsafe?

Earlier we can withdraw our entire money based on some days/months. Now we need to wait for 12th of month. Another point is that withdraw the money based on repayments like below.

 

[Sathishmani]

Yes but at the end user level it increases risk, as RBI rules state that the intermediary should not assume any risk, hence no escrow account. Thereby implying that only if the borrower repays you'll get your money back.
And the announcement by mobikwik seems like you can only withdraw the amount which the borrowers keep repaying and not all at once.
I am quite worried as to whether they will allow us to opt out once and for all and get all the money back.

Yeah. Same feeling.

 

[suhasa010]

Yeah. Same feeling.

It's my fault that I did not act as soon as the RBI rules were announced. I took a laid-back approach thinking I'll withdraw if anything changes.
Many have already withdrawn but many others including me and you are left stranded.

 

[Sathishmani]

It's my fault that I did not act as soon as the RBI rules were announced. I took a laid-back approach thinking I'll withdraw if anything changes.
Many have already withdrawn but many others including me and you are left stranded.

I didn't know about new rules. I have more than 4L there. Hoping for the best to get all the money in a couple of months.

 

[iampqq]

Lag gye b m c

 

[iampqq]

Pura change krdiya

 

[suhasa010]

I didn't know about new rules. I have more than 4L there. Hoping for the best to get all the money in a couple of months.

Fingers crossed!
Hope they give us a last resort.

 

[iampqq]

Very very risky now