Fraudulent People Take Fake Loans In The Name Of Another Person. The Amount Taken In The Loan Has To Be Paid By The Person In Whose Name The Loan Is Taken. The Number Of Such Frauds Has Increased. Today, Through This Article, We Will Be Able To Easily Tell You How You Can Check Whether Any Other Person Has Taken A Loan In Your Name. If Someone Has Taken A Loan Then Where Can You Complain About It?

Check Here How Many Loans Are In Your Name?

If You Want To Check How Many Loans Have Been Taken In Your Name, Then You Can Check It From Your CIBIL Score. In CIBIL Score, You Can Know The Details Of The Loan Along With Its Details. If There Is Any Fake Loan In Your Name Then You Can Get Information About It From CIBIL Score.

What Is CIBIL Score?

Whenever A Person Takes A Loan, He Checks His CIBIL Score. Actually, CIBIL Score Shows The Financial Status Of A Person. If A Person Has A Good CIBIL Score, He Can Easily Get A Loan, But If A Person Has A Bad CIBIL Score, He Faces Difficulty In Getting A Loan. CIBIL Score Gets Spoiled When You Do Not Make Any Loan Or Credit Card Payment On Time. If Your CIBIL Score Is Bad Then You Can Join The List Of Defaulter.

There Are Many Credit Bureaus In The Country Where You Can Check Your Credit Report For Free. Apart From This, You Can Easily Check Your CIBIL Score On Many Online Platforms. The Facility To Check CIBIL Score For Free Is Also Provided On Bank Apps.

Notification of Credit Check: RBI has mandated that all credit information companies must notify customers when their credit reports are checked by banks or NBFCs. This notification can be sent via SMS or email. This rule aims to address complaints related to credit scores.

Disclosure of Rejection Reasons: If a customer’s request is rejected, the RBI requires that the reason for rejection must be disclosed to the customer. This will help customers understand why their request was rejected. A list of reasons for rejection should be shared with all credit institutions.

Free Annual Full Credit Report: Credit information companies are required to provide customers with a free full credit report once a year. To facilitate this, credit companies should display a link on their websites, allowing customers to easily check their full credit reports. This will help customers access their CIBIL Score and complete credit history.

Notification of Defaults: Before reporting a default, banks and lending institutions must notify the customer. They should send SMS or email notifications sharing all relevant information. Additionally, banks and lending institutions should appoint nodal officers to address credit score-related issues.

Timely Resolution of Complaints: Credit information companies must resolve customer complaints within 30 days. Failure to do so will result in a daily penalty of INR 100. Banks and lending institutions have 21 days to inform the credit bureau, and credit bureaus have 9 days to resolve the complaint. If any of these deadlines are not met, penalties will be imposed.

These rules are aimed at making the credit reporting system more transparent and customer-friendly. They provide guidelines for reporting credit information and resolving disputes, ultimately benefiting consumers.