img

MobiKwik Xtra Faces Backlash Over Sudden Withdrawal Policy Change

- MobiKwik's Xtra investors are struggling with withdrawals after a policy change by lending partner Lendbox. - Users claim the change was made without prior notice and investments were transferred without their knowledge. - The RBI's new rules on P2P lending are cited as the reason for the halt in anytime withdrawals. - MobiKwik states that withdrawals will now be available on the 12th of every month. - Other P2P platforms like BharatPe's 12% Club and Liquiloans are also facing similar issues. Source: [Entrackr](https://entrackr.com/2024/09/mobikwik-xtra-suspends-anytime-withdrawals-draws-flak-from-users/)

img
img

ConsciousWaste

Stealth

11 days ago

That's the reason we should think before investing in these organisations
img

wonko

ANGEL ONE LIMITED

11 days ago

They were really really good platforms until rbi guidelines fucked things up
Sign in to a Grapevine account for the full experience.

Discover More

Curated from across

img

Personal Finance on

by FancyChino64

Stealth

P2P Lending firms self regulating to stop instant withdrawals from 1-Apr

https://m.economictimes.com/tech/startups/p2p-lenders-to-stop-liquid-funds-as-rbi-peers-into-business/articleshow/108686922.cms https://twitter.com/ravihanda/status/1771021456287088858

img
img

Indian Startups on

by codenerd

Stealth

Mobikwik P2P screw up

Anyone got screwed up by Mobikwik Xtra since the RBI updated their P2P rules recently? I am deadly screwed up now since they have blocked withdrawals. I have never felt like this in life I guess. I am starting to lose my senses now. Now I understand the feeling of others to some extent who have been badly affected by some sort of financial investment or decision in their life. This whole fiasco is haunting me. Just need to wait till 12th September to see what Mobikwik has planned. I still have to make a poker face and be normal at home infront of everyone. If they get a hint of this whole mobikwik RBI fiasco, I can't even fathom the consequences.

img

News Discussion on

by tenet

Stealth

Any reviews for CRED mint or mobikwik Xtra?

Has anyone used these P2P lending platforms, how has been their withdrawal process and overall credibility

img

Personal Finance on

by Sherlock007

TCS

P2P lending diversification

I have put lots of my liquid money into P2P lending and get 1k daily from cred mint, mobikwik xtra and 12%. Reason- My bank pays interest which hardly can beat inflation. Question - Where should I park my liquid money ? PS - Markets at high and real estate is bound to crash.

img
img

Personal Finance on

by HiddenView

Student

Is p2p lending is safe in india?

thought on p2p lending as a investment like Cred mint, 12 percent club, OkNivesh (okcredit) Grip Invest, India P2P etc. i do not faced any problems with withdrawal and i used Cred mint and 12 percent club but scared as might be chances there NPA will increased and i might not able to withdraw my whole month i kept around 8L in cred mint and 3L in 12 percent club your thoughts?