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Nature / Category of the complaint

Unauthorized Cibil loan enquiry without consent

Description

I used the Freopay application (owned by MWYN company) on April 4, 2024, to check my eligibility for a Buy Now, Pay Later service. However, on May 18, 2024, a partner of MWYN company, named "SWITCH MY LOAN PVT LTD," made a loan hard inquiry on my credit profile (CIBIL & CRIF) without my consent. Upon investigating with the partners, I discovered that MWYN company is giving consent on my behalf without my knowledge. As a result, these hard inquiries are being made on my profile, damaging my credit score. My complaint is that MWYN company does not have the right to give consent on my behalf. If this practice continues with all your partners, my credit profile will be overwhelmed with numerous inquiries, which will severely harm my credit standing. I request that you take immediate action to stop this unauthorized behavior by MWYN company. Please confirm the receipt of this email and inform me of the steps that will be taken to rectify this issue.

Status of Complaint

Forwarded to regulator