P2p Lending fello

[Vaibhav_Jain]

I used to invest in fello for p2p lending, which used to give me 12% intrest. But it is over a week, ny investment is matured,and fello customer care is saying due to rbi restrictions on lendbox ,it will be delayed.
Is anyone else facing same issue?
It is over 1 week, my investments are stuck in the app. But at the same time i also had invested in mobikwik xtra,but it is giving the repayments timely (and the transactions are named " transactree …" , i.e, same lendbox)

Point in mobikwik is that they locked the investment amount saying it will be paid when borrowers repay,and iam getting repayments.

But in fello,my investment is already matured days ago, so no point of waiting for borrowers.And instead of repaying back the matured amount they are saying they reinvest it back to 8% flo( which is also stuck from many days as it is paused since many weeks). On asking they say it is default option.

If anyone else us having similar issue please do share.

And i think jupiter should also launch some kind of p2p investment in its all as it is already having digital gold,mutual funds,etc.

[Siddharth_B_R]

I think the borrower defaulted in paying your money. As per the latest RBI guidelines, you have to sign an agreement with the borrower with an OTP. Before the intermediary had the right to split it amongst multiple borrowers which did not need any OTP. Did you sign the agreement?

[Vaibhav_Jain]

No ,any agreement was not there. And also i have checked other comments on Play Store,there many people are saying same

[Siddharth_B_R]

I think the borrower defaulted, and they are trying to recover the money. That’s why they are asking the lenders to reinvest so that they have some extra time to recover the money from the borrowers. You might or might not receive the money. It looks like an NPA.

[Vaibhav_Jain]

They are not asking for investment. They paused all the investments. Reason they are saying due to rhi restrictions lendbox is facing delays

[Siddharth_B_R]

@Vaibhav_Jain

And instead of repaying back the matured amount they are saying they reinvest it back to 8% flo( which is also stuck from many days as it is paused since many weeks). On asking they say it is default option.

Has your amount been reinvested or are they waiting for your approval?

[Vaibhav_Jain]

Check the screenshot,same from past 10 days