Mpokket is illegal

Name of Complainant ASHISH
Date of ComplaintSeptember 12, 2021
Name(s) of companies complained against
Category of complaint Banking
Permanent link of complaint Right click to copy link
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Text of Complaint by ASHISH:

Yes I have taken loan from mpokket. It’s 221 days past for overdue of loan. I don’t wants to pay there amount. Bcz it’s not registered nbfc under Rbi. After strict restrictions given by Rbi and Cbi.
These fraud lending app mpokket is harrshing me and hacking all contact no and also harrshing thm. Thy are charging higher int.rates .please I request Rbi to take serious action against mpokket. Close this app permanently.in mail thy are sending me legal notice letters and saying thy ll send letters to me sling with all whom I contact with.

Image Uploaded by ASHISH:

31 thoughts on “Mpokket is illegal

  1. I also took loan and got overdue, they’re calling me nonstop with different numbers and harrassing to pay, please look into this apps and close them for good, this is torturing, they’re eating us alive, and alao to prevent others from fraudulent like Mpokket. Close up

    1. I guess you to repay once you took the loan. Beside there is a bigass para of agreement without agreeing to which you won’t have the loan approved. I guess I am making sense

      1. so that means we also have to pay the surreal interest rate imposed by them i.e 246.27 % ? do I make sense?

      2. Ikr, these people just want free money just because mpokket doesn’t registered nbfc under rbi it doesn’t mean that they can just take the money whatever they want and walk away without paying them. They should be grateful that there’s an app like mpokket that kindly give money to students like us, and of course, even if they’re students also and they don’t pay their money back, you will be harras by them since it’s their money that you took, after all, and even if it’s me also I would harras them to death until they repay their loan or money

    2. simply make compliant on consumer forum by call then you will be relief. or file a harassments case your nearest police station by recording their all calls .

      1. Why do people have issues paying back the loan. Yes sometimes you don’t have the money and can’t pay right away but you have taken a LOAN for godsake. Why do you feel entitled to that money? It’s not free. They(company) have to pay bills as well. People work their ass off. (FYI I am not their salesman or assistant (whatever they call them).

        It is indeed a risky business for them too. Just imagine someone took money from you and they refuse to pay them making lame excuses (that illegal RBI thing etc)

        Legal or not, you have signed the contract. Pay your damn bills.

  2. Mpokket se me as well legal notice, but I didn’t receive because , they are also calling my family member, they charged very high interest rates, I told if you will decrease you money then I will be pay but they didn’t want to understand , still calling my family member as well

    1. i have already paid my due amount to mpokket but still in my cibil report showing your accounts is in active they didnt closed my loan account

  3. Yes I have taken loan from mpokket. It’s 220 days past for overdue of loan. I don’t wants to pay there amount. Bcz it’s not registered nbfc under Rbi. After strict restrictions given by Rbi and Cbi.
    These fraud lending app mpokket is harrshing me and hacking all my personal and offically contact no and also harreshing to my family ,releative ,friend and my office staff with owner them. Thy are charging higher int.rates .please I request Rbi to take serious action against mpokket. Close this app permanently. in mail thy are sending me legal notice letters and saying thy ll send letters to me sling with all whom I contact with.

  4. Mere paas baar baar call aa rhi hai baar baar msg aa rhe hai mujhe harres kiya ja rha hai mpoct ke dwara mere contact me sbhi ko dhmkaya ja rha hai

  5. I took a loan from mpocket it’s overdue 320 days it is putting high interests and it’s hacking my contacts and calling my family, relatives &friends and harrassing with different numbers

  6. Yes I am also requesting reduce penalty charges but they won’t they charged penalty of 13k for 12 .5 k.

  7. There are calling me from different number n to my complete family and friends endlessly. There language is also not good.

    Already all earned respect is gone on toss so I have now decided myself to quit, means to say iam going to commit suicide.

  8. Hello bro i took a loan of rs 9000 now 1 year back now they are telling me to pay 19,500 also threatened me to send legal notice to my college i am requesting them to please give a month time but they are not listening, also they are not reducing fine amount. They will call all my contacts and harrass them please guide me what should I do next.

  9. Why do people have issues paying back the loan. Yes sometimes you don’t have the money and can’t pay right away but you have taken a LOAN for godsake. Why do you feel entitled to that money? It’s not free. They(company) have to pay bills as well. People work their ass off. (FYI I am not their salesman or assistant (whatever they call them).

    It is indeed a risky business for them too. Just imagine someone took money from you and they refuse to pay them making lame excuses (that illegal RBI thing etc)

    Legal or not, you have signed the contract. Pay your damn bills.

    1. Yes you are right.
      But steal contact information from phone is crime under IT act in india.

      They take only one reference number. and call all contact number for harres and blackmailing them.
      Again it is illegal under criminal procedure.

      Every finance company must have register under fiance ministery govt of india and RBI. Aad must follows norms.

      I know mpokket is working behalf of jalan chemical pvt ltd (gorav jalan) . And itt nighter a bank nor a NBFC. how can they finance in india.
      Second they give lone for less then 3 months and less then 30000 rupees which is is impossible in india

      Third the interest rate are 10% per month
      Money will be doubled in 12 months.
      With high bounce charge and penalty extra.

      The company earn more then a public sector bank And Other iilligal bussness.

      The company give lone to unemployed students and needy people.

      In financial sector all know that this sector is very risky. If i want lone from finance company they will check each and every critaria income source,asset,property,curret lone,emi, exppences, after this they further thik.

      If i will not pay to a public sector bank they can not harres and blackmail me.
      In india not to pay lone emi not a crime.
      It is civil matter. Not a crime.

      So mpokket company doing illegal activity in india.

    2. Lol, undercover mpokket recovery agent. They reported a 500% gains on their investments and we are ready to pay with intrests but not with penalties and those agreements are not valid in court.

  10. I took my loan and repay everytime ..bt they send me legal notice after 1 and half years regarding repayment ..i lost my phone and registered number in 2020 …they are asking for 30k which is injustice to student as they consider themselves as Student loaning app .

  11. i am also threatened by the Mpokket. They call me everyday from the different numbers. I am an student. I don’t have source for earning. I took 5000 loan and I was paying the money but some technical issue of the company, the app cannot opening for 3-4 days. After 3-4 days i was paying the money then they put the penalty. And I told them about that i tell them, its not my fault i gave the money that is all over with old interest, Why I gave them New penalty. And this was happened. Now the penalty goes to 20000. what can i do please help

  12. Mpokket se loan liya tha 6000 rs 3 months k liye mtlb 6000×10% per month 600×3 1800rs 3months ka interest itna interest kon leta hai 680days hogya aur unhone 22000 rs dene bola aur wo mere reference number m call krre bolre pay krne ko..

  13. Mpokket is doing illegal things with every one. I took a loan during pandemic and lost my job suddenly. I also took loans several times from them and paid before due date. However as I have lost my job I was not able to pay them and now they hacked all my contacts and calling everyone which I believe is not fair. Atleast they should listen to the situation and allow some more if someone is asking.

  14. i closed all account but sibale is showing 40 account is active many mail to call center but not responding and not sent noc

  15. Yes even I took a loan in my emergency they are Rs.200.00/- for Rs.2000/- and when comes to repay they are charging more amount like Rs.2200.00/- it means per Rs.2000.00/- they are charging Rs.400.00/- in name of Charges, tax, Processing fee and all.

    The surprising thing is they are charging processing fee before loan disbursed and also while repaying the loan in that term you people are charging twice charges from customer and disbursing low amount.

    Meanwhile due to some personal issue if we failed to repay on time harassing with “N” number of calls in a day and you are charging Rs.16.00/- per day.

    Please provide proper solution or else you will be banned from India.

  16. And the people who got frauded by sone loan company? What about them? I lost 40000 because of a loan company, no one is giving me back that amount. Then I think they should suffer, I am talking about illegal loan companies.

  17. These loan apps are fraud they charge higer interest disburse less amount and play with people’s mentality many people have committed suicide because of these lending companies…
    They call and harrasses all the time and tries to hack all the contacts and sends nonsense to everyone from the contact list…
    Specially this mpokket is at its peak they are harassing me for no reason even after I have cleared all the dues.
    Kindly help

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