Mudra Loan complaints are often seen now a days. This happened due to huge gap in demand and supply of Mudra Loan. Now it is important to understand your rights to exercise before you proceed to lodge any complaint. Loan is not the right of any person. Bank may reject any Mudra or other loan proposal without giving any notice if they are not satisfied with applicants financial records, credit rating and eligibility criteria. There are some common reasons due to which the Mudra or other loan applications are rejected:
- Unsatisfied or poor credit history( Unpaid credit card dues on time, Missed installment, EMI default or Surrendered Loans or Credit cards in past)
- Nominated under Defaulter Category list(CIBIL maintains your repayment defaults if any and reports it every month) which automatically lower your credit scores.
- Your loan co applicant or your loan guarantor have a poor credit history or poor CIBIL score .
- Insufficient documents like PAN, Adhar, Cancle Cheque, Organisation documents etc
- Poor repayment capacity due to already running loans
Where & How To Register Your Mudra Loan Complaints?
When you fulfill all the eligibility conditions and have proper documents in place but your loan application is not considered then you may approach to below mentioned solutions.
⇒ Nodel officers appointed by Mudra Ltd. & Banks are completely responsible to resolve your issues. You may contact them directly at Mudra Contact Details You may call them or write your issues to them via email given.
⇒ Alternate Solution: online apply through Mudra websites
⇒ Or through stand up mitra portal
Escalate the matter further if you are yet not satisfied
All bank branches have a grievance cell. As a customer you may meet the concerned officials and explain your issues in working hours. There is a complain register also. You may also register the complaint on the banks website. Banks also have dedicated toll-free customer care number on which you may register your grievance and get a complaint number (or complaint ID).
They also have email address for other loan and Mudra loan complaint redressal through which you may directly write to service quality department. There is real time monitoring system of complaint received through Customer Relationship Management (CRM) which is set up in all bank branches.
Positively within 30 days you get a solution or suitable reply. If your bank doesn’t address your complaint with 30 then you may approach to Banking Ombudsman (Senior official appointed by RBI) for redressal of your complaint against deficiency in banking services.
Now, If you are not satisfied with the settlement offered by Banking Ombudsman , you may file the appeal before the appellate authority (deputy governor of RBI) within 30 days.
Note: Banking Ombudsman addressed only those complaint which are first approached his/her banks for grievance redressal.
For further reference, you may also visit
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