Karur Vysya Bank — Consumer Loan Fraud - CIBIL Report

I have never applied or approached Karur Vysya Bank for a consumer loan, however upon checking my recent CIBIL report, I was shocked to learn that there are 2 consumer loans tagged on my credit report from different banks with the same account number and both opened on the same date - September 20, 2022 with a sanctioned amount of INR 400 and INR 1600 respectively.

None of these were requested by me, and still reflected on my profile without my consent or knowledge.

Acct 2 - CapFloat Financial Services Pvt Ltd - INR 400
Acct 3 - Karur Vysya Bank Ltd - INR 1600

I am glad I requested for the CIBIL report for the first time ever in my life, and that helped to discover such a fraudulent practice from the Bank. Though I have raised a dispute with CIBIL, the following response from CIBIL indicates that they cannot make any corrections or provide a clear clarification:

"Please accept our sincere apology. TransUnion CIBIL on reviewing the information reported by bank /financial institution understands that the provided details are correct, we recommend you to get in touch with KARURVYSYA for required correction. As per Credit Information Companies Regulation Act, we are not authorized to delete or modify any records in your CIBIL Report without confirmation from the respective institute."

I have noticed that there are numerous people who have lodged a complaint here in the consumer complaints forum, regarding the same experience from Karur Vysya Bank.

Please find attached screenshots from the CIBIL report and the CIBIL dispute status and request your kind action to ensure that these 2 fraudulent loans are removed from my profile with an immediate effect and no banks adopt such fraudulent practices by cheating innocent people.

Thank You.
+2 photos
Was this information helpful?
No (0)
Yes (0)
Karur Vysya Bank customer support has been notified about the posted complaint.
Complaint comments 

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    By clicking Submit you agree to our Terms of Use
    Karur Vysya Bank
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    Karur Vysya Bank Phone
    +91 2754 0491
    +91 2754 0611
    +91 2754 0091
    Karur Vysya Bank Address
    First Floor , Motilal Centre, Ashram Road, Ahmedabad, Gujarat, India - 380009
    View all Karur Vysya Bank contact information