I am not good at english writing so sorry for grammatical mistakes.
It’s based on my 10 yrs experience with Arman .
No doubt they have shown tremendous growth in AUM, they grow at crazy level.
But if u go at customer level they r playing completely different game. Which is not in MFI rulebook. They are telling customer that if u complete 30k loan, u will get 60k then 90k and so on.
So customer pays with greed of getting more money. But when they will realise that it’s a trap , there loop will be break.
If u see at very micro level it’s purely juggling. U r charging 24% interest, 2% FPC ,RS.300 credit check charge. And deduction of 1St installment in advance.
Does this kind of loot will survive.
And such high valuations for what such malicious practice?
If u talk to CAG or Chola employees they r the most Ethical people they r also wondering with Armans such practices.
And because of their cash collection model many employees literally looting customers in the name of late fees and all.
And that’s why Arman employees are ready to work at very low basic salary. Because they r getting big chunk directly.
Disc. Not invested.
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