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girishankar (manager)     27 February 2010

Banks and cibil

Dear sir,

One of my frnd had a credit card of a Bank  it was miused by someone and the same was informed to the Bank and he closed is credit card dues by cash after some period the Bank ppl called him to pay some more balance amount which was in dispute........Meantime he went tobuy a car in a show room and paid a 50% of the value and the balance he went for finance....... After two or thre Days he got a information that some Non payment is reflecting in CIBIL so the finance company stopped financing for his car.....Wht to do ? Members Please Guide.......

Why without any intimation CIBIL is doin it... Whts the realtionship MNC Banks and CIBIL


 4 Replies

Daksh (Student)     27 February 2010

Dear Girishankar,

As a matter of fact  it is the inside story of Bankers and financial institutions that they share details of the defaulters/alleged defaulters on account of shown default of your friend with one institution (for one reason or another) the other financial institution is creating the trouble. 

To show you the way forward here is the solution.

Write down the factual status to the principal banker and mark the copy of the same to the one from where car finance is sought to be taken/refused and to the leading Newspapers as well.   Wait for their response or be ready with the litigation.

Best Regards


1 Like

girishankar (manager)     27 February 2010

Thank U

girishankar (manager)     27 February 2010

Sir there is  CIBIL for Bankers to know abt the Customers status whter its true or not or in which circumstances the Bankers hav recomended and without any explanation getting from the said customers in what why the CIBIL is putting all the Genunie customers in trouble and mental agony.......

Why CIBIL so far hav not given /not giving a statement of  of many Big finance  Companies i:e Just like City limounise and others who hav ditched lot of poor peoples by giving  false promises and Advertiments .

Why Is CIBIL is  not botherd abt  Public.........Only Bothered abt BANKERS

What Service they are giving to Banks also must to be Provided by them to the public.......

Why its been ignored by CIBIL and whts the remedy.....

Please Explain......

anil kumar (service)     28 February 2010

Dear Shri girishanker,

Wait for some time the RBI is framing guidelines for Banks about the circumstances under which it should declare defaulters name to CIBIL. Repayment of settled / negotiated  amount to credit card company would not be considered default for the purpose of notifying in the defaulters' list of CIBIL by Banks. This is the what the RBI is now proposing to do. Please read the attached news item published in Economic times dated 24th Feb 2010.    

Attached File : 56 56 rbi to set norms for credit card bills.doc downloaded: 112 times
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