Reply to Mr. Prayag Pal's review. Review on Apnaloan

(As the remark is long, submitting it as a new review)

Dear all,

As I work for Apnaloan, let me give our clarifications related to the comments put by Mr. Prayag Pal.

(First please let us appreciate the excellent platform created by mouthshut.com so that consumers can share their views about a product or service. And it also surely helps a customer-focused company like Apnaloan to get customer insight on a real time basis.)

I am giving you our feedback after investigation on our side.

As Mr. Pal has rightly described, and our data records confirm, he has been our registered customer since August 2001. And that he did choose to apply for a credit card through us some 2 years back.

And as he has clearly described in great detail, he did not face any major issues with Apnaloan till the complete processing of the application (applying on online; getting contacted by the friendly service executive; submission to the bank; etc.) by us.

But in the end, very unfortunately, he got wrongly billed by ABN Amro for the outlook magazine subscription. Mr. Pal had interacted with our net-based service team (on email) and after checking out our records, we found that we have responded to him in time on his queries. We could not find any mis-hap at our end (We could not check the physical records, though we keep a photocopy of application for a few months to use in case of such incidences. But as this case was checked late, the form had already been shredded). We do contact banks for such clarification, but, although we are the originator of the application, banks do not take such requests from somebody other than the customer, to avoid any chance of security breach.

We had tried to clarify this to Mr. Pal with replies to all his communications to us from various channels.

His own comment says that, primarily, his issue was with the bank. Although being a distributor on the said esteemed bank's products, our scope for action is limited. Especially about an approved customer, bank would be (and rightly so) very hesitant to deal with a third party.

Apnaloan's is a responsible company with its shareholders including ING Vysya bank, Rediff, FMO, SIDBI Venture and Jumpstartup Ventures. Our privacy policy is available on the site and is followed in letter and spirit.

We thank once again Mr. Pal for his feedback. He remains a valuable customer for us and we sincerely hope to service him better in future, if given an opportunity to do so.

Once again we appreciate the mouthshut platform which gives an opportunity to companies, such as Apnaloan which care about their consumers, to realise the challenges in the industry we are working in and to continuously improve our control mechanism to mitigate probability on such incidences.

Regards,

Manish Shah

Head-Business Process

manish.shah@apnaloan.com

Mobile: 022-3830 5829