[Resolved] CIBIL — Car loan denied

ani85

from Chennai, Tamil Nadu

Address:

South West Delhi, Delhi

I had applied for a car loan at Kotak Mahindra, thinking of having adequate financial credentials. however the bank denied the loan approval to me, by giving reason that since my father's name is in CIBIL's list therefore they cannot provide me with the loan. can please some one help me out in finding whether this is a valid reason for rejecting a loan application? whether it is neccesary that even some one in relation to the applicant should not have his/ her name in the CIBIL list?

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Aug 13, 2020

Complaint marked as Resolved

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Comments

stocktrader

from Mumbai, Maharashtra

Bank's do not report personal details to cibil and cibil has no way to check relatives account till they have the pan number - if you have provided the pan number of your father or if he was a co applicant in that loan then only any bank can relate a relative.

anyways rbi guidelines does not suggest that credit cannot be granted to the relative of any bankrupt person leave alone some credit defaults.

so it must be kotak;s bad intention or some other reason to deny you the loan