Best case scenario would be if borrowers pre pay their due amount before the due date which I know in India is rare. Thats the only event where you can extract your money without waiting for 12-36 months.Only 1/12 part of ur investment will be available to withdraw
mobikwik should give the money from their pocket,they can collect it from the re payment. You cant change terms and condition in the middle of a investment.
But we had invested trusting mobikwik not lendbox,It is their platform.They could have atleast made this changes to new investment and take consent from the existing users
Today got call from Mobikwik, I explained them the legal proceedings so now they agreed to provide withdrawal option by 12th Sept. Waiting till date
Wow. Please tell us more about the legal proceedings you discussed about. Please share it here also for all of us! Maybe a ray of hope. We all can jump onto that bandwagon and email in the same template as per your inputs to Mobikwik, RBI, etc etc.
We will get our money back. Gotta keep patience now, no other option. It's not like after recent RBI circular there's going to be a land rush and borrowers are going to enjoy free money.
Guys.. let every one post in social media and spread this scam what mobikwik doing with us so that they may change some guidelines which benefit for us.
Guys.. let every one post in social media and spread this scam what mobikwik doing with us so that they may change some guidelines which benefit for us.
but the fact is almost 90% people will withdraw the money in the same day.The system will collapse. Even Banks like Hdfc, Sbi will not be able provide customer's money if 90% customer demand the money back in the same month. I think they should take their time, max 1 year. But they should promise us the full amount as along as fixed interest. We cant take the responsibility of borrower's repaymentMobikwik Xtra users hit withdrawal snags as new RBI rules trigger changes
Mobikwik stated that its NBFC-P2P partner, Lendbox, has restructured the Xtra product, resulting in the suspension of anytime withdrawals and other changes.yourstory.com
P2P investors take to social media to vent against new RBI rules
Some of Mobikwiks investors have taken to social media channels like ‘X and Reddit to flag their concerns around changes in their investment terms and conditions. “Received an email today from MobiKwik regarding certain changes they have (made) to their P2P programme named ‘Xtra due to recent...m.economictimes.com
News media also picking up this story so maybe it helps.
At this point I just wish ki principal amount invested bhi nikal jae toh bhi mai Ganga naha lunga. Interest earned gaya tel lene. Even if recovering full investment takes 3 months I am fine with that also.
I just hope 12th September ko yeh log chawanni naa distribute kr rhe ho and we will be lucky if we r able to withdraw atleast 25-50% of our investment in 1st month itself.
These morons have not yet shared repayment schedule on the app which they keep talking about.
I hope. I hope. I hope that we r unnecessarily panicking and that some miracle happens where we are able to withdraw major chunk of our money on 12th. Let's see. Hope for the best.
rbi said to stop giving daily interest. Rbi never said to change terms of all the existing plans. The change should be applied to new investment only as they have the option to select or reject the borrower based on their profile.
