Reserve Bank Of India [RBI] — Loan Mobikwik

Hi,

I am Mohd. Sazid i have applied a loan on the mobikwik app and for this loan mobikwik charged 2990 Rs. as a processing charge but the loan amount is credited in the mobikwik wallete and for the day one i have requested to mobikwik for the reversal of this loan because amount is credite in mobikwik wallete i can use this amount only on bill payment and shopping bill payment..

i request you to please let me know how can they charge processing fee if i can use this only on bill payment and shopping. ?

Continue i mail to mobikwik and asked some questions releted to this loan but they said k they are not libel to answer my questions..

Same questions i have asked to Mr. Bipin Preet CEO Mobikwik but his not replying on twitter.

One of Mobikwik Executive were called me and said first i need to pay 3 EMI then it will be reverserd.

Let me know why i shoul be pay 3 EMI without using amount ?

And for the same loan my bank charged me ECS bounce fee and for this i am toaly frustrated...

Request you to please look my metter help me to resolve this...

Thanks &Regards
Mohd. Sazid
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