Complaint Against FatakPay & FDPL Finance Pvt Ltd for Illegal Loan Practices and Harassment of Student Borrower

arun@4456

arun@4456

New member
Bank Name
FDPL Finance Private Limited
Customer Care Number
+91 8976226669
Loss Amount
8800
Ratings
1.00 star(s)
Opposite Party Address
Ground Floor, Office No. 1, Technopolis Knowledge Park,
Mahakali Caves Road, Nelco Complex,
Andheri East, Mumbai - 400093, Maharashtra, India
12-Apr-2025 – I availed a loan of ₹7,500 from FatakPay. The APR was 173.42%, and the repayment date was 30-May-2025. No income verification was done despite me being a student.


30-May-2025 – The loan repayment became due, but I was unable to pay the full amount due to financial hardship as a student.


31-May-2025 onwards – I started receiving harassment via SMS, WhatsApp, and phone calls from recovery agents threatening home visits, despite explaining my situation.


21-May-2025 (7:31 PM) – I emailed grievance@fdplfinance.com requesting a stop to harassment and repayment extension. No reply was received.


22-May-2025 (1:53 PM) – I sent a follow-up email to both grievance@fdplfinance.com and help@fatakpay.com. No response was received.


23-May-2025 (4:52 PM) – I messaged @FatakPay on X, requesting two things:
  1. Stop harassment immediately.
  2. Extend repayment till 30 August 2025.
    They promised a call back by 5:30 PM but no one contacted me.
24-May-2025 onwards – Despite their promise, the harassment continued with repeated recovery messages and calls.


1-July-2025 (9:00 AM) – I emailed FatakPay informing that I had paid ₹1,040 from my pocket money and I am a student. I clearly stated I am committed to paying in small installments and will pay ₹1,800 more when I return to college. No acknowledgment of my payment or student status was received.


5-July-2025 (3:18 PM) – FatakPay falsely claimed no payments were made and refused my request for an extension beyond 3 July 2025. They ignored the ₹1,040 I paid.

5-July-2025 (3:58 PM) – I sent a final email again explaining my student status and asking them to stop harassment. I warned them about RBI and Cyber Crime Cell complaints.


7-July-2025 onwards – Despite my clear requests, they resumed aggressive recovery calls, causing mental stress during my college studies

Key Issues:​

  • Loan issued without verifying my financial capacity as a student.
  • Excessively high-interest rate (173.42%), violating ethical lending practices.
  • Continuous harassment despite payments and communication.
  • No acknowledgment of my student status or genuine efforts to repay.
  • FatakPay’s partner FDPL Finance Pvt Ltd is not listed on the RBI CMS Portal, raising serious regulatory concerns
What I Am Requesting:
  1. Immediate cessation of all recovery calls, SMS, and harassment.
  2. Official acknowledgment that I am a student with no regular income.
  3. Extension of my loan repayment deadline to 30 August 2025, as I originally requested.
  4. Waiver of any additional interest or penalty charges accrued due to my financial hardship.
  5. Compensation of ₹25,000 for the mental distress, academic disruption, and emotional harm caused by their unlawful harassment.
  6. A formal investigation into FatakPay and FDPL Finance Pvt Ltd’s lending practices by the RBI and Cyber Crime Cell.
 

Attachments

Last edited:
arun@4456 said:

Key Issues:​

  • Loan issued without verifying my financial capacity as a student.
  • Excessively high-interest rate (173.42%), violating ethical lending practices.
  • Continuous harassment despite payments and communication.
  • No acknowledgment of my student status or genuine efforts to repay.
  • FatakPay’s partner FDPL Finance Pvt Ltd is not listed on the RBI CMS Portal, raising serious regulatory concerns
Click to expand...

Please provide the details/document that shows any deficiency in service.

In simple words, you borrowed loan and you have to pay it.
 
these are all document prove that personal loan is provided by company to the student without verfiying creditworthyness and repaying capability
 

Attachments

I would like to respectfully clarify that I am a student with no stable income.


My concern is not about a simple service deficiency, but about a serious violation of RBI lending norms. As per RBI and consumer protection guidelines:


  • Lenders must verify the borrower's income, creditworthiness, and repayment ability before granting a personal loan.
  • Despite clearly informing them that I am a student without income, the company sanctioned a personal loan to me, charging an extremely high-interest rate (173.42% APR).
  • This is an example of predatory lending, taking advantage of a financially unqualified borrower.
  • Moreover, they have harassed me with repeated recovery calls/messages, which has affected my mental health and academic focus.
 
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