| Address: 375CHAUDHRY MAM CHAND MARG RAMPURA NEW DELHI , UNCLASSIFIED DL 110035 |
Respected Sir/Madam,
I am Mayur Sanjay Marathe, a citizen of Maharashtra, writing to file a formal public grievance against a network of short-term loan apps operating under the guise of registered NBFCs, who are harassing, threatening, and exploiting financially struggling individuals.
I have been personally affected by apps such as Speedo Loans, SalaryOnTime, Tejas Loan, Rupee112, etc., where loans were disbursed with hidden charges, excessive daily penalties (2% per day), and harassment began immediately upon delay — even in a medical emergency. I have received messages saying, "we are coming to your home today," and threats of police and HR contact. This is causing mental agony and financial trauma.
These apps are backed by NBFCs such as:
Naman Finlease Pvt Ltd
Agrim Fincap Pvt Ltd
Kasar Credit & Capital Pvt Ltd
Solomon Capital Pvt Ltd
Pawansut Holdings
Raghavi Finance, among others.
Their recovery agents often operate without DRA certification, violating RBI's Fair Practice Code and borrower dignity. Many borrowers across India are suffering silently, falling into depression or worse.
I humbly request:
1. RBI to suspend/review NBFC licenses of apps violating recovery norms.
2. Introduction of a borrower rehabilitation product for those affected by genuine hardship.
3. Cyber Crime Cell intervention for misuse of gallery, contact lists, and data theft.
4. Public listing of NBFC-to-app mappings so borrowers can verify legitimacy.
I am not denying my dues. I seek only fair treatment and dignity under law. Please intervene before this becomes a nationwide mental health tragedy.
Sincerely,
Mayur Sanjay Marathe
Maharashtra
📧 [protected]@gmail.com
📞 [protected]
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