Instant loan apps gained popularity during COVID-19 induced lockdown. Leveraging people's helplessness after having lost their jobs or businesses shut, instant loan apps provided an easy way out to fulfil their immediate needs. Unlike banks, these apps worked fast, with no regard to an individual's credit score. But people's nightmares began when they could not pay the loan + hefty interest + penalties and other hidden charges in time. Fast forward to this day, a new nuisance has arrived in the form of spam and an instant loan provider named Instabulls Dhani is at the forefront.
Receiving payment reminders for unpaid bills is one thing, but Instabulls Dhani went a step further to allegedly send payment reminders to random mobile numbers. Whoever said, any press is good press, appears to have inspired the folks at Indiabulls Dhani if the allegations are true. But it has backfired on the face of Dhani app, which proudly claims on its website to have served "50 lakh+ happy Dhabi loan customers."
Spamming anyone & everyone?
Several users have complained on Twitter saying they have received a message from Indiabulls Dhani. The alarming tone of the message, which forces users to click open the message, also includes a link, which appears to be spam. Each message contains variations of the link with "http" prefix, which indicates the website isn't safe to visit.
We tried visiting the website link provided in the message and it returned an error. But it is the subject line of the message that is frightening to many. Here's what the message says:
Hi, Payment Reminder! Please pay your pending dues in just 1 click - Log on to Dhani App. Click on OneFreedom Banner & Pay using multiple easy payment options in 1 click. Also get upgraded to a Higher Credit Limit at 0% Interest within 30 days of paying your dues."
Besides the users who confirmed on Twitter that they received the message of this nature allegedly from Indiabulls Dhani even though they never visited their website, let alone take a loan from them, many others wrote to us separately confirming that they recieved the same message unprompted.
Take a look at some of the users who are outraged by the spam messages:
International Business Times has reached out to Indiabulls Dhani for a response and the story will be duly updated.
What is Indiabulls Dhani?
For those surprised by the spam sent by Indiabulls Dhani, were forced to wonder what the company is all about. According to the official website, Indiabulls Consumer Finance Limited (IBCFL), a 100% subsidiary of Indiabulls Ventures Limited (IBVL), is a non-deposit taking NBFC registered with the RBI.
The company in question has expanded its roots into various sectors besides finance and loans. "Growing from a personal finance business to now offering a comprehensive range of products across both healthcare and financial services, the company has continually prioritized the need of the hour in the country to design offerings made for today, and geared for tomorrow," the company says on its website.
Under health, Dhani offers services like e-pharmacy, doctor consultations, medical insurance, personal insurance and more. Under money related schemes, it offers no cost EMIs, free cashbacks, Rupay Card, stocks trading and more. It offers features like instant personal loans, credit line, digital wallet, Dhani points, Partner Program, and interesting features like 'Spin the Wheel' and the 'Stock Market Game'.
Here's a look at Indiabulls board of directors:
If this trend is any indication, one can only imagine what happens to those who are unable to pay their dues on time.