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RAJAPU MOHANA RAO (operations manager)     07 July 2021

Bajaj finance personal loan

Good evening respected sirs, 

I am from visakhapatnam, I am having a personal loan in bajaj finance limited, One lakh personal loan for 36 months term with 48,000 interest. I pays every month EMI without failure. Last year due to covid I applied for moratorium for 5 months for this 5 months they charged extra 50,000 interest on one lakh loan, even though i am paying the EMI. Last two months i.e., may and june there is curfew in AP and also there is no work to get the money so i failed to pay the EMI including this month. couple of days back i received a call from a female claiming that she is an advocate calling on behalf of RESERVE BANK OF INDIA. she said that you are having a three cheque bounces in personal loan so RBI asked to file a cheque bounce case. I said that i will pay on 10th of this months but she refuses to listen. I have an doubt will RBI directly call to any one. Please give some suggestions.

Thank You in Advance


 11 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     08 July 2021

No. It cannot be RBI official calling you. RBI never calls anybody, surely not the way you described. 

RAJAPU MOHANA RAO (operations manager)     08 July 2021

Thank you for your valuable reply sir

In personal loan if there is any chance of arrest if cheque gets bounced please reply sir


SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     08 July 2021

Normally no, the exception being the cheque bounce case, provided the cheque is given for payment of EMI and the cheque is returned for want of funds.

G.L.N. Prasad (Retired employee.)     08 July 2021

Have you saved the number ?  File a complaint to cybercrime police of harassment with the impersonation of the Advocate of  RBI.   Facts may emerge as to the fake calls.  Mark this complaint as a copy to Bajaj.  Please report to RBI in their website as a grievance and state the facts.

Ignore such fake calls as private lenders/NBFC are experts in making such calls and unless and until you receive written notice,  no one can take any action on cheque bouncing cases.

RAJAPU MOHANA RAO (operations manager)     08 July 2021

Yes sir I saved the number and also i recorded the calls sure I will follow your instructions sir thank you i am attaching a file please find it sir

G.L.N. Prasad (Retired employee.)     08 July 2021

This is not the issue you have raised on "Fake Calls" in the name of RBI.

Certain Advocates sign and deliver such notices in printed format leaving certain columns black and private financiers fill those gaps and post it in their names.

This is not a cheque bouncing notice and a mere notice in a uniform format to threaten borrowers.

Ignore the same as this is not cheque bouncing notice under law and be prompt in paying installments promptly hereafter.

There are several sites that show you the way to get interest calculations, and one has to just feed principal, EMI, and interest and the correct outstanding amount can be seen as final output.  

Do not spend a single rupee and post all these only on line (i.e. Cyber crime, Bajaj, RBI website (or pgrms portal)


RAJAPU MOHANA RAO (operations manager)     08 July 2021

Thank you so much sir for your valuable reply

1 Like

G.L.N. Prasad (Retired employee.)     08 July 2021

I am a common man, and let experts also respond. My suggestion is to give a primary understanding of the issue to the queries and suggest a simple remedy as first aid without spending a single rupee. The opinion of experts is most valuable as it flows from professional and dedicated members. (The fill-in blanks bold print, issuing notice by a Pune Advocate for Bangalore branch to a Visakhapatnam borrower sparked such suspicion, please also mark the copy of the complaint to that Pune Advocate also)

RAJAPU MOHANA RAO (operations manager)     19 July 2021

Again today i received a call from that lady with different number said that they were sending summons and attend to the court in time

G.L.N. Prasad (Retired employee.)     19 July 2021

First, inform whether you have implemented from the last ten days any suggestion/guidance given to you.

RAJAPU MOHANA RAO (operations manager)     20 July 2021

yes sir i tried to file a complaint in RBI website but in area of operation NBFCO i dint find my state sir. I am from visakhapatnam sir 

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