Duniya Finance: His Loans Came From One Company. His Repayments Went to Another.

On 30 May 2026, a salaried borrower repaid a Duniya Finance loan and took a new one the same day. The new loan reached his bank account from Focus Industrial Resources Limited. A month later he repaid it, by UPI, to a payee his bank statement names as "AMANFINCAP". Aman Fincap Limited is the company whose account had paid his first two Duniya Finance loans.

The next loan went the same way: paid by Focus Industrial Resources on 30 June, repaid to "AMANFINCAP" on 26 July. Both companies are registered with the RBI. Duniya Finance, the app, is run by a third company, Credwise Fintech Private Limited.

He is the borrower at the centre of Oquilia's investigation 84 Loans, 30 Lenders, Seven Months: a salaried engineer who took 84 short-term loans from 30 RBI-registered companies between March and October 2026, almost all of them to repay each other. Duniya Finance gave him one of his first two loans, on 31 March, and lent to him six times in all.

Six loans, two paying companies

His loan records name Aman Fincap as the lender on the first three loans, "Focus Industrial Resources Limited/AMAN FINCAP LIMITED" on the next two, and Focus Industrial Resources on the sixth. Five of the six payments into his account carry a Duniya Finance reference, and all six match his records to the rupee and the date.

The re-lending followed the pattern of his other apps. On 1 May, 30 May and 30 June, his statement shows about ₹92,000 going out to repay one Duniya Finance loan and ₹62,000 to ₹66,000 coming back in as the next, the same day. Each turn cost him between about ₹25,500 and ₹30,300. After his repayment on 26 July, the next loan came three days later. The five loans that have fallen due put ₹3.22 lakh in his account and were repayable at ₹4.61 lakh.

One app, two lenders, a third company running it

Lenders must report every app they lend through to the RBI, and update the list "as and when" they add one or stop using one (Credit Facilities Directions, para 18). The RBI's directory of digital lending apps, built from those reports, records Duniya Finance like this:

• Aman Fincap's filing for the period to 30 September 2025 lists the app, spelt "Duniayfinance", as run by Credwise Fintech Private Limited.
• Aman Fincap's next filings, in December 2025 and July 2026, do not list it. Its latest, dated 4 August 2026, lists no apps at all.
• Focus Industrial Resources' only filing in the directory, uploaded on 29 September 2026 for the period to 29 July, lists Duniya Finance, also run by Credwise Fintech, with five other apps: Tejas Loan, Paisa On Salary, Loan Zap, Udhaar portal and fundbhai.

By the time that filing was uploaded, Focus Industrial Resources had paid him three Duniya Finance loans. On 28 September it also paid him ₹52,920 through Tejas Loan, another Credwise app.

Paisa On Salary, a Credwise app listed by both companies, was the subject of an earlier Oquilia report on a borrower's complaint that it e-mailed his colleagues.

Where the money is supposed to go

The RBI's rules are specific about the flow of money in a digital loan: "An NBFC shall ensure that all loan servicing, repayment, etc. is executed by the borrower directly in the NBFC's bank account without any pass-through account/ pool account of any third party, including the accounts of LSP" (Credit Facilities Directions, para 10(2)). An LSP is a lending service provider, such as the company that runs an app.

The rules do allow money to move between lenders in a co-lending arrangement, where two lenders share a loan (para 10(1)). Oquilia does not know whether Aman Fincap and Focus Industrial Resources have such an arrangement, or any other agreement that explains why loans paid by one were repaid to a payee bearing the other's name.

The companies

Aman Fincap Limited and Focus Industrial Resources Limited are both registered with the RBI as non-banking financial companies under the RBI's New Delhi regional office, and both registrations are valid. Focus Industrial Resources is a listed company. The RBI's press releases since January 2025 record no penalty against either.

What the rules say

Nothing in the RBI's rules stops a lender lending again on the day it is repaid, or lending to one person through several apps at once. A lender must collect a borrower's age, occupation and income "with a view to assessing the borrower's creditworthiness" and keep it on record (Credit Facilities Directions, para 8(1)); the rules do not tell it to refuse a borrower who already owes other lenders. The RBI does not cap interest rates, though it says rates "beyond a certain level may be seen to be excessive" (Responsible Business Conduct Directions, para 25). No fee missing from a loan's Key Facts Statement may be charged without the borrower's explicit consent (para 29(5)), and the lender stays "fully responsible and liable" for the company running its app (Credit Facilities Directions, para 6(7)). The investigation sets out the rules, and what they leave out, in full.

If you borrow through one of these apps

• Ask for your Key Facts Statement for every loan, and check each rupee you are asked to pay against it.
• Write to the grievance officer. Both lenders' filings in the RBI's directory give grievances@duniyafinance.com for Duniya Finance; Focus Industrial Resources gives grievances@tejasloan.com for Tejas Loan. Ask in writing which company is the lender on your loan, and keep every repayment receipt showing whose account received your money.
• Complain to the RBI at cms.rbi.org.in if there is no reply within 30 days, or the reply does not settle it.
• Report threats, or messages to your employer, colleagues or contacts, at cybercrime.gov.in or on 1930.
• Stop borrowing from one app to repay another. Each new loan adds a new deduction and a new due date. Oquilia's loan-harassment help page explains your rights in plain language.

How this was reported

This report draws on the records behind Oquilia's investigation 84 Loans, 30 Lenders, Seven Months: the borrower's loan-by-loan record, which he compiled from the lenders' app screens; his HDFC Bank statement for 30 March to 30 September 2026; and the RBI's public registers. Each loan's amounts, dates and rate are from his records. Each payment described as appearing in his bank statement was matched to the rupee and the date. The apps listed under each company are from the RBI's directory of digital lending apps as published on 24 October 2026, and registrations from the RBI's list of NBFCs. Oquilia has not seen the Key Facts Statements for these loans. The borrower's name, employer and city are withheld at his request.

Corrections: if any figure, date or description in this report is wrong, send the correcting document to editor@oquilia.com and we will correct it.

The lender files

• The investigation: 84 loans, 30 lenders, seven months
• Ampire Finance: 13 loans, and six apps in two days
• Naman Finlease: 12 loans through six apps, at up to 951% a year
• FundoBaba: the same ₹60,000 loan, seven times
• Salary4Sure: repaid and lent again the same day
• Swiftpaisa, salarybaba and Rupee4u: missing from the RBI's app directory

Frequently asked questions

Which company is the lender behind Duniya Finance?

In the RBI's directory of digital lending apps, Duniya Finance is listed by Focus Industrial Resources Limited, in a filing for the period to 29 July 2026, and is run by Credwise Fintech Private Limited. An earlier filing by Aman Fincap Limited also listed it. In this borrower's case, his first two Duniya Finance loans were paid by Aman Fincap and the next four by Focus Industrial Resources. Your own loan's Key Facts Statement should name your lender.

What interest rate does Duniya Finance charge?

In this borrower's loan records, his six Duniya Finance loans carried annual rates of 474% to 602%, each repayable in 26 to 33 days. The RBI does not cap NBFC rates, but the all-in annual rate must appear in the Key Facts Statement before you sign.

Whose account should my loan repayment go to?

Your lender's. RBI rules require repayment to be made directly into the bank account of the NBFC that lent to you, with no pass-through or pool account of a third party, including the company running the app. Money may move between lenders only under a co-lending arrangement. Ask the app in writing which company is your lender, and keep every receipt showing whose account received your money.