Biggest problem with CIBIL is that its one way tool only. It relies only on what banks tell it and a customer has to run around a lot to get any mistake corrected. Which is much hassle and a stress on mind and time. Banks rarely if ever admit to their mistakes and a customer has to comply and pay exorbitant fees to banks. There's no other option for a customer if he needs a loan and banks threaten to report him to CIBIL. By RBI guidelines, a bank has to inform customer and give him notice period before reporting him to CIBIL but no bank follows this procedure. CIBIL has been created to monitor consumers but what about monitoring banks who're indulging in legal robbing. One should stay away from credit cards for peace of mind.
Re: Just a tool to beat customers with
by Vikas Arora on Apr 21, 2010 04:33 PM
You look at the share holding pattern of CIBIL. You will find it all share holders are various banks only and with this a background, they will look at themselves only. Also these banks are modern day mahajans which are looting the public in much legal way.
I know this is not the forum to ask this question still
I DO not have credit card , but have debit card of SBI and BOB which i use regularly.However i have noticed strange thing ,lately when i swipe my debit card it DOES NOT ask for any password ( which it used to ask earlier)..this has happened in VISHAL megamart and 2/3 local shops.
Does it means if I loose my debit card anybody can use it and get away?
Re: Hi
by rameshbabu ramakrishnan on Apr 21, 2010 12:14 PM
Pankaj, you need to treat debit card equivelant to hard cash. Anyone who posses ur card can misuse.
These banks are taking individuals at ransom and even after settling the accounts they pass on your no to their goons who will keep on trobuling you and even threaten you with listing your name on the Credit Rating Bureau. So this is acting as a faciltation agency for these banks. BE AWARE CREDIT CARDS ARE FOR NO GOOD STAY AWAY FROM THEM FOR YOUR PEACE OF MIND
Re: Help requested....
by BE Kolkata on Apr 21, 2010 09:37 AM
CREDIT INFORMATION BUREAU (INDIA) LIMITED Hoechst House, 6th Floor, 193 Backbay Reclamation, Nariman Point, Mumbai 400 021
Branch Office
CREDIT INFORMATION BUREAU (INDIA) LIMITED 412-415, 4th Floor, Tulsiani Chambers, Nariman Point, Mumbai 400 021
Re: Re: Help requested....
by vinod verma on Apr 21, 2010 06:45 PM
it will be helpfull if you can guide how we can get our CIR.According to soucers we have to submit DD of Rs.142/-please advise further
