Is PennyDrop Loan App Safe? RBI DLA Directory Verdict
Directory checked 2026-10-12
- ✅ Listed in RBI's DLA directory as “PennyDrop”
- 🏛️ Deployed by: SHANKAR FININVEST (P) LTD. (NBFC)
- 📧 Grievance officer: nodal.officer@pennydrop.in
- 🛡️ Complaint route: RBI CMS portal (free)
🔍 PennyDrop — What RBI's DLA Directory Records
| Regulated entity | SHANKAR FININVEST (P) LTD. (NBFC) |
| LSP (Lending Service Provider) | None: the app is self-owned by the regulated entity |
| Entity website | https://www.shankarfininvst.com |
| Grievance officer | Ayush Swami |
| Grievance contact | nodal.officer@pennydrop.in · 9311582500 |
📱 Distributed via: Website
Source: RBI — Digital Lending Apps deployed by Regulated Entities (public directory), checked 2026-10-12. Listings are reported by the regulated entities on RBI's CIMS portal without further validation by RBI — a listing is not an RBI endorsement. Always confirm the lender named inside the app matches the entity above before sharing documents.
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❓ Quick Answers
Is PennyDrop loan app safe?
PennyDrop is listed in RBI's public directory of Digital Lending Apps, deployed by SHANKAR FININVEST (P) LTD. (NBFC). The listing is reported by the regulated entity on RBI's CIMS portal — always confirm the lender named inside the app matches this entity before sharing KYC.
Which lender is behind PennyDrop?
PennyDrop is deployed by SHANKAR FININVEST (P) LTD., a NBFC regulated by RBI. This is the legal lender named in your loan agreement.
PennyDrop customer care / grievance contact?
The grievance redressal officer on record is Ayush Swami — nodal.officer@pennydrop.in, 9311582500. Use this official contact, not helpline numbers found via Google search (scam helplines target loan-app users).
How do I complain against PennyDrop?
Step 1: raise the issue inside the app. Step 2: email the grievance officer (nodal.officer@pennydrop.in). Step 3: no resolution in 30 days — escalate free to the RBI Ombudsman at cms.rbi.org.in.
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