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Unfair Trade Practices & Predatory Lending
Deducting heavy fees upfront (processing, GST), leading to actual disbursal far below sanctioned amount.
Charging excessive interest (daily ROI leading to 400–1, 000% APR).
Violation of RBI Guidelines
Not annualizing interest (mandatory under RBI’s Digital Lending Guidelines 2022).
Issuing multiple parallel loans (via Gagan Metals network) pushing EMIs to 80%+ of income, breaching RBI’s 50–60% cap.
Illegal Recovery Practices
Recovery agents contacting wife and sister, showing their numbers, sharing photos of your house to threaten you.
Violates:
RBI Fair Practices Code,
IT Act Section 72A (unauthorized use of personal data),
IPC 503/506 (criminal intimidation).
Mental Harassment & Reputation Damage
Causing emotional distress and professional risk (threatening to involve family/employer). Was this information helpful? | 
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