Is PhonePe Business Loan App Safe? RBI DLA Directory Verdict
Directory checked 2026-10-08
- ✅ Listed in RBI's DLA directory as “PhonePe Business : Merchant App”
- 🏛️ Deployed by: MAS FINANCIAL SERVICES LIMITED (NBFC)
- 🤝 Operated by: Onboarding happens through the PhonePe app where API's are embedded. — a Lending Service Provider running the app on the regulated entity's behalf, per RBI's directory
- 📧 Grievance officer: Email : https://grievance.phonepe.com.
- 🛡️ Complaint route: RBI CMS portal (free)
🔍 PhonePe Business — What RBI's DLA Directory Records
| Regulated entity | MAS FINANCIAL SERVICES LIMITED (NBFC) |
| Operated by | Onboarding happens through the PhonePe app where API's are embedded. (Lending Service Provider) |
| Entity website | https://www.ugrocapital.com |
| Grievance officer | Ms. Rithvi Somani |
| Grievance contact | Email : https://grievance.phonepe.com. · 8068727374 |
📱 Distributed via: iOS App Store · Google Play · Website
Source: RBI — Digital Lending Apps deployed by Regulated Entities (public directory), checked 2026-10-08. 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 PhonePe Business loan app safe?
PhonePe Business : Merchant App is listed in RBI's public directory of Digital Lending Apps, deployed by MAS FINANCIAL SERVICES LIMITED (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 PhonePe Business?
PhonePe Business : Merchant App is deployed by MAS FINANCIAL SERVICES LIMITED, a NBFC regulated by RBI. This is the legal lender named in your loan agreement.
PhonePe Business customer care / grievance contact?
The grievance redressal officer on record is Ms. Rithvi Somani — Email : https://grievance.phonepe.com., 8068727374. Use this official contact, not helpline numbers found via Google search (scam helplines target loan-app users).
How do I complain against PhonePe Business?
Step 1: raise the issue inside the app. Step 2: email the grievance officer (Email : https://grievance.phonepe.com.). Step 3: no resolution in 30 days — escalate free to the RBI Ombudsman at cms.rbi.org.in.
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