i m victim of stan chart bank and cibil working. i believe CIBIL is nothing but are sophisticated recovery agents of banks, who only charge handsome amount principal / interest and whatever they want to.
i was known as loyal and long term customer of STAN CHART BANK, few days back i got a call that bank can give me a personal loan on my long term relationship and loyality with the bank. i replied yes to them and requested for process the application.
next day i got a call from STAN CHART bank that i m defaulter of their bank auto loan and my name is in negative databASE OF CIBIL. i was shocked and surprised. on the one side i was VALUED CUSTOMER for them and on other side i become DEFAULTER. i inquired the same it was kind of mileage overdraft loan which was closed satisfactorily with them in MAY-2009 AND THEY HAVE ISSUED ME closure letter of account and sent me NOC so that i can sell my car as it was hypthocated.
i tried to contact them on customer care and they assured me that account is closed and nothing is outstanding BUT WHAT ABOUT CIBIL. they sent me mail saying sorry for the inconvenience in this regard. BANK IS SMART ENOUGH TO USE QUICK steps to put your name in negative databse of CIBIL but they valued customer pay their handsome principal interest to them then they hardly bother to update the data of the CIBIL. its nothing but a one sided affair of banks, CIBIL will not update the data of the customer by its own. it solely depend on BANKs report and without any authentication. WHY WE FOLLOW CIBIL PRINCIPALS when actually they dont have any standard of working. now i have to wait another 45 days so that BANK can update CIBIL data of mine. and I HAVE ALSO REQUESTED cibil in writing alongwith their fee but they have not responded well too. after 2 months if i don't get any reply then i will have to approach RBI banking ombudsmen. i feel that if laws and regulations are just one sided and not transparent then why do keep such bodies which are of no use and just to blackmail customer officially. now stan chart or anyother bank can easily blackmail their customer . its shocking !!!!!!!!!
I support this complaint.
Totally True If the entire process is not Transparent its like searching a needle in a haystack, I believe CIBIL should be more transparent
YES,MUKESH BHAI SAYING CORRECT THING,RBI SHOULD TAKEN SERIOUS ACTION AGAINST CIBIL AND BANKS,ONCE LOAN ARE REPAID,CUSTOMER NAME SHOULD BE REMOVED IN DEFAULTER LIST,THIS DUTY IS NOT ONLY OF BANKS BUT CIBIL ALSO ASK TO THE BANKS ABOUT RESOLVED CASES. BCOS THIS IS A KIND OF HARESMENT AND CHEATING WITH THE CUSTOMERS.
even i had mistakes in my cibil report due to which my loan was denied. But a friend recommended me credit sudhaar.. I got in touch with Credit Sudhaar( www.creditsudhaar.com ) They are a crack team run by professionals from the financial services industry. Excellent responses, always available to take my queries.. These guys at Credit Sudhaar are ever reliable.