MFI Did Not Provide Loan Card in Local Language
Your MFI did not give you a loan card at the time of disbursal, or gave one only in English when your local language is different, making it impossible to understand your loan terms.
⚖️Your Rights Under RBI Regulations
Every MFI borrower must receive a loan card in their local language — this is mandatory.
The loan card must show: loan amount, interest rate (reducing balance per annum), all charges, total repayable amount, GRO contact.
Without a loan card, you have limited means to verify if repayments are correctly recorded.
💰 What You Can Recover
Demand the loan card immediately. If overcharged because of the opacity, recover the excess.
⏱ Response Deadline
Demand loan card in writing — MFI must provide within 7 days.
📋Step-by-Step — What to Do
Write to the MFI branch demanding a loan card in your local language.
If refused or delayed, write to GRO.
File with Sa-Dhan / MFIN and RBI Ombudsman.
🏛 Where to Escalate If Bank Doesn't Respond
Sa-Dhan + MFIN + RBI Ombudsman
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