Loan rejection

Mohammad Ali (Querist) 15 June 2008 This query is : Resolved
ICICI bank has rejected my personal loan, i am a very old cutomer of their as well my salary gets credit to their bank. i even hold theri credit cards too and recently closed my PL i had taken 3yrs before with out any default payment at all. i tried asking them a lot on what basis they have rejected my loan but they are not disclosing.. is their any legal way i can find this..... i strongly fell this is due to bad remark as one of my relative who has illegaly used my property adress has defaulted the payment. is this could be one critria they might have rejected???????????? pleaes advice.

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amit gupta_lawyer (Expert) 15 June 2008
well every bank has a policy of there own u cannot compel them to grant u loan however even they are biased towards u then also its difficult for u to prove that unless its apperent on record. the bank can always escape from this by saying that ur status is doubtful for them to grant you loan. however the pvt bank have libirty to do buisness with any one of there choice.

arunprakaash.m. (Expert) 16 June 2008
Every commercial banks has a discretionery power to povide and nor to provide a loan. It is not a public authority.

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