| Name of Complainant | |
| Date of Complaint | July 28, 2023 |
| Name(s) of companies complained against | mPokket Financial Serviced Private Ltd. |
| Category of complaint | Internet Services |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
      |
|
Respected Sir
I am student who took loan from mPokket Financial Serviced Private Ltd. Which is an RBI registered NBFC.I took loan from this company and deligently paid every loan amount.
Due to certain casualties in my family I got depressed and was not stable to do any work to do anywork for 3 months.
When I checked my dues after 3 month it got increased in exaggerated rate.Generally the amount increased was more than 100%. The Principal Amount I alloted was 10000 (including 25% interest ,charges and taxes) and the money I received was around 7800 Rs.Now they want me to pay total amount of 22400 Rs.which is 135% more than the amount I received.
I tried to talk them for months but instead of helping they argued with me.I AM A STUDENT AND CURRENTLY HAVE NO SOURCE OF INCOME.I used to save 30 -40 Rs per day to pay my loan earlier but due to heavy increase in the amount I am not able to do this.They keep destroying my credit score and I think due to this I will get any student loan for my further studies.Please help me regarding this matter I took the amount and I am not Ignoring to pay but the amount is too exorbitant.
About the company mPOKKET –
mPokket Financial Serviced Private Ltd. Which is an RBI registered NBFC.
RBI Registration Number- N-05.07091
This company mainly gives loan to student in the fixed amount of 1000-2000-4000 Rs and charges around 25% for duration for 1 month.If you fail to pay this Amount they increase interest at exorbitant rate and damage students credit score. Due to poor credit score students found themselves helpless as they will not able to get any student loan for further studies and have to pay the Amount with Exorbitant interests.
This company was banned in February 2023 by Indian government for 8ts involvement with Chinese companies.
This company mainly grow by exploiting students and play with there future.All these information I gathered after months of time spending to know about the company.
Image Uploaded by Tanveer Alam: