Senior Business Development Officer Mohit Jagdish has filed a complaint against Poonawalla Fincorp, highlighting delays in loan disbursement despite the portal showing “Disbursement Stage” since last month. Full details on Choice4Voice.com
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Complaint Summary : Poonawalla Fincorp Loan Complaint – Mohit Jagdish Reports Delay in Loan Disbursement
| Customer/Complainant | Mohit Jagdish |
|---|---|
| Profession | Senior Business Development Officer |
| Complaint Type | Loan Disbursement Delay |
| Company/Brand | Poonawalla Fincorp |
| Application Status | Stuck at “Disbursement Stage” |
| Date of Application | August 2025 |
| Current Status | No amount credited despite approval |
| Customer Concerns | Emails unanswered, calls unresolved, “technical glitch” response |
Full Complaint Details
Mohit Jagdish, a Senior Business Development Officer, has raised a complaint against Poonawalla Fincorp regarding an unresolved loan disbursement issue.
According to his statement:
- He applied for a loan and the online portal has been showing “Disbursement Stage” since 26th of last month.
- Despite this, no funds have been credited to his account.
- Multiple follow-ups via email have gone unanswered.
- On phone calls, customer support vaguely attributed the issue to a “technical glitch.”
The complainant further emphasized that the delay has disrupted his financial planning. Adding to the frustration, he no longer needs the loan due to this prolonged inaction.
Customer’s Statement
“As customers, we trust financial institutions with our urgent requirements. But such delays without clear communication break that trust.”
Original LinkedIn Post
View Mohit Jagdish’s LinkedIn post here
Brand Section – Poonawalla Fincorp
Poonawalla Fincorp is a well-known financial services provider in India, offering personal loans, business loans, and other financing solutions. However, this case highlights the importance of timely disbursement and transparent communication in the financial sector, as customers often rely on loan approvals for urgent financial needs.
Legal Options for Customers Facing Loan Delays
If a financial institution fails to release approved funds on time, customers can:
- File a complaint with the RBI Banking Ombudsman.
- Escalate through the National Consumer Helpline (NCH 1800-11-4000).
- Raise the issue in a Consumer Court for deficiency of service.
- Approach SEBI/Financial Regulatory Authorities if applicable.
Choice4Voice.com – Supporting Consumers
At Choice4Voice.com, we help customers whose complaints are ignored by companies. Our mission is to give visibility to such cases so businesses act faster.
If your refund, loan, or service request is delayed, you can submit your complaint with us, and we will publish it to ensure accountability.
👉 Submit your complaint here: https://choice4voice.com/submit-your-complaint/
Frequently Asked Questions (FAQs)
Q1. Who has filed the complaint against Poonawalla Fincorp?
The complaint was filed by Mohit Jagdish, a Senior Business Development Officer.
Q2. What is the main issue in this complaint?
Delay in loan disbursement despite the portal showing “Disbursement Stage.”
Q3. How long has the loan been pending?
Since 26th of last month, with no funds credited yet.
Q4. Did the customer receive any response from Poonawalla Fincorp?
Emails went unanswered, and calls only cited a “technical glitch.”
Q5. What financial impact did this delay cause?
The complainant’s financial planning was disrupted, and he no longer requires the loan.
Q6. What is the legal remedy for delayed loan disbursement?
Customers can escalate to the RBI Banking Ombudsman or Consumer Court.
Q7. Can a customer withdraw their loan application after approval?
Yes, if the loan is not disbursed, customers can request cancellation.
Q8. Does RBI regulate loan disbursement timelines?
While RBI regulates fair banking practices, delays can be considered service deficiency.
Q9. How can a customer lodge a complaint against Poonawalla Fincorp?
Through their official grievance redressal system, NCH, or Banking Ombudsman.
Q10. What are common reasons for loan disbursement delays?
Technical glitches, incomplete documentation, or internal approval bottlenecks.
Q11. Can loan disbursement delays affect credit score?
Not directly, but prolonged cancellations or disputes may impact future borrowing.
Q12. How long should loan disbursement normally take?
Typically, 3–7 business days after approval, depending on the lender.
Q13. What if a financial institution fails to respond to emails?
The customer can escalate to regulators and file an official complaint.
Q14. What steps can borrowers take when facing such issues?
Maintain written records, escalate internally, and file with external regulators if needed.
Q15. Is “technical glitch” a valid reason for month-long delay?
No, such excuses reflect poor service and negligence.
Q16. Can compensation be claimed for delayed disbursement?
Yes, customers can seek compensation for financial loss in consumer court.
Q17. What role does Choice4Voice.com play in such cases?
We publish and amplify complaints to ensure companies are pressured into resolving issues quickly.
Q18. Why is timely loan disbursement critical?
Because customers often apply for loans to meet urgent financial needs.
Q19. What message does this complaint send to Poonawalla Fincorp?
That delayed communication and unresolved disbursements harm customer trust.
Q20. How can other customers avoid such issues?
By choosing lenders with transparent communication, faster disbursal, and strong grievance support.
Final Note
This case underlines the importance of trust, timely action, and accountability in financial services. Customers like Mohit Jagdish rely on institutions such as Poonawalla Fincorp to fulfill commitments without delays.
If you too are facing unresolved complaints with banks, NBFCs, or financial service providers, Choice4Voice.com is here to support you by ensuring your concerns are heard.
Choice4Voice.com Is Here to Help You
If you are facing a similar issue and would like our support in highlighting your concern, we are here to assist.
Simply write a LinkedIn post and tag our official page Choice4Voice.com
Submit your complaint directly : https://choice4voice.com/submit-your-complaint/
