@saynotoloans@PowerLawyerVJ Not correct , fight is indeed against their business model, Being a law making institute RBI can not give these goons a free hand to decide everything like processes fee , interest rate. This business model is built to destroy borrowers doesn't matter how responsible someone is
🚨 INDIA’S PAYDAY LOAN TRAP: ₹1.10 LAKH MONTHLY SALARY, YET DROWNING IN DEBT!
A 40-year-old salaried professional contacted us with a very disturbing account.
He earns ₹1.10 lakh a month. Yet within just SIX MONTHS, he says he accumulated approximately ₹14 lakh in payday loans.
How?
He alleges that some payday loan lenders (basically apps) charge 1% interest PER DAY — equivalent to 365% annually on a simple-interest basis while demanding repayment within 30 days.
He says repayment dates sometimes fall just before his salary arrives.
Unable to clear the entire amount, he takes another loan to repay the previous one.
BORROW → REPAY → BORROW AGAIN → SINK DEEPER.
He says banks have rejected his applications for a longer-term consolidation loan, leaving him struggling to escape the cycle.
What disturbed me most was his description of the emotional toll. He says six months ago he was living happily with his family. Today, he is struggling with severe financial stress and losing hope.
This is not merely a story about debt. It is a warning about how short-tenure, high-cost lending can devastate financial stability.
@RBI@FinMinIndia serious questions demand answers:
Are these lending arrangements compliant with applicable RBI rules?
Are borrowers receiving transparent disclosures of the annualised cost of credit?
Who is monitoring complaints of coercive recovery and misuse of borrowers’ personal data?
What effective remedies exist for people trapped in repeated loan rollovers?
A stable salary should not become a gateway to financial ruin.
The borrower has requested anonymity, which we are respecting.
#LoanAppAtyachar #PaydayLoanTrap #BorrowerRights
He is Director of Fintech cloud accepting that his employees abuse females .This man is behind 40+ payday loan apps. He has exposed all payday loan apps that what's the behaviour they do with customers.
@saynotoloans@RBI@RBIsays@piyushnaya53994@johnfp1qa@tlankeshwar
@RVD3451@Johnfp1qa@dr_sharma77057@saynotoloans@santosh23236177 Yes we got who you are and how much you are qualified, chapri recovery agent, have guts than openly acknowledge that you are a recovery agent, people will automatically judge how qualified you are.
And ask you maliks to file a case than.
Sasta Desi Nostradamus @aravind is busy 'predicting' events that are already happening. A few days later, he'll announce: "I told you so!" 🤣🤣
Post 30–40 tweets on the same subject, covering every possible permutation and combination. If even one claim comes true, start taking credit. Quite the prediction business! No?
These protests in Arunachal have been going on for days. Just because Godi media hasn't highlighted them doesn't mean they started after your "prediction."