| Name of Complainant | |
| Date of Complaint | February 22, 2025 |
| Name(s) of companies complained against | PAYME INDIA FINANCIAL SERVICES PVT LTD |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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Details of the Issue:
I applied for a loan on December 30, 2024, which was approved, and I successfully completed the eSign and eNACH process.
The loan status was updated to “due for disbursal” within 24 hours as per the usual process.
However, I did not receive the loan disbursement by December 31, 2024.
Since the company’s customer care number was not working, I raised an online ticket regarding the delay. I was informed that the loan was still due for disbursement.
Despite raising daily tickets, on January 7, 2025, I was suddenly informed that my loan application had failed and that I should apply for a new loan.
However, their system continued to reflect the loan status as “under review”, causing further confusion.
After multiple follow-ups and raising tickets until January 13, 2025, I finally received a response on January 22, 2025, stating that my loan was rejected.
Contradictions and Unfair Practices by the Company:
After raising a complaint with the Banking Ombudsman, the company responded that my loan was rejected because “based on the credit bureau report and income details, it did not meet FOIR eligibility criteria.”
However, despite this reasoning, the same company approved and disbursed a loan of ₹30,000 to me on February 17, 2025—which contradicts their previous claim of ineligibility.
Additionally, I was pressured to withdraw my complaint in exchange for loan approval.
