Mobikwik Xtra and Transactree technologies limited

[satishdubba]

Hi,

I have invested 3,00,000 in Mobikwik Xtra Flexi paln before August 16th but as we aware Mobikwik stopped Flexi plan and not allowing withdrawal of money citing RBI guidelines.

However after seeing TF Admin Post I have filed complaint in RBI OMBUDSMAN against Mobikwik but RBI have closed the complaint saying to contact Lendbox which the parent company whereas Mobikwik is only a platform to mediate.

So I have mailed to Transactree technologies and they have given reply that as per RBI guidelines entire funds withdrawal has been stopped.

Then I have asked Lendbox "you are following only partial terms and conditions and not taken my consent before lending funds then they have shared terms and conditions mentioning clause 17,18 and 19 mentioned as "I authorize Transactree Technologies Pvt Ltd to automatically invest my funds in different borrowers (only from the select pool of borrowers identified by MobiKwik and Transactree Technologies Pvt Ltd) based on its algorithm and keep reinvesting repayments in new borrowers for optimizing my returns. I understand that no further signature or consent or authorization is deemed necessary from me for lending to various borrowers on the Transactree Technologies Pvt Ltd platform.I understand that the list of borrowers in such a case will always be dynamic in nature i.e. subject to change without prior notice to me. "

So what can I do now? Is what they have done is correct or should I approach the RBI OMBUDSMAN?

 

[aniketkr.sharma]

Hi,

I have invested 3,00,000 in Mobikwik Xtra Flexi paln before August 16th but as we aware Mobikwik stopped Flexi plan and not allowing withdrawal of money citing RBI guidelines.

However after seeing TF Admin Post I have filed complaint in RBI OMBUDSMAN against Mobikwik but RBI have closed the complaint saying to contact Lendbox which the parent company whereas Mobikwik is only a platform to mediate.

So I have mailed to Transactree technologies and they have given reply that as per RBI guidelines entire funds withdrawal has been stopped.

Then I have asked Lendbox "you are following only partial terms and conditions and not taken my consent before lending funds then they have shared terms and conditions mentioning clause 17,18 and 19 mentioned as "I authorize Transactree Technologies Pvt Ltd to automatically invest my funds in different borrowers (only from the select pool of borrowers identified by MobiKwik and Transactree Technologies Pvt Ltd) based on its algorithm and keep reinvesting repayments in new borrowers for optimizing my returns. I understand that no further signature or consent or authorization is deemed necessary from me for lending to various borrowers on the Transactree Technologies Pvt Ltd platform.I understand that the list of borrowers in such a case will always be dynamic in nature i.e. subject to change without prior notice to me. "

So what can I do now? Is what they have done is correct or should I approach the RBI OMBUDSMAN?

Huge trap, RBI can't help as consent is barrier for them.