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.
Can you please elaborate what actually happened? What are the rules? How you got screwed up?
codenerd
Stealth
11 days ago
So Mobikwik has a P2p product called Xtra. All this while since last couple of years evrything was smooth. Sufdny RBI imposed strict rules on how they should operate as a P2P entity. Because of that mobikwik suddenly blocked all withdrawals of users whoever invested money there and from now onwards an investor will only get back money when the borrower pays and it will be done once a month like bank installments. Hence an investors flexibility to withdraw money is lost and money is blocked for everyone. Earlier people were able to withdraw thr money anytime, any amount.
Okay got it and from past 2 years how was your experience with P2P? Can you tell me how much you invested? How much returns you made?
Can you also suggest a platform because I was also thinking to invest in P2P.
Can you guide me as a beginner what are the steps? How risky is this?
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