Self — not updating of the customers

Address:

Hyderabad, Andhra Pradesh

cibil is the most useless organisation which ruins the future of an honest borrower .The finance ministry should take serious action against this organisation alongwith declare compensation for consumers whose scores have been downgraded by CIBIL.There are instances wherein banks have not bothered to update informations with CIBIL for years and based on a one sided information cibil is giving scores relying on the correctness of the bank without getting into verification even after you submit information as a consumer alongwith evidence the records are not updated till months .why is there no penalty levied on a bank ?I think lakhs of people are effected by this act of CIBIL .Why does a lending bank totally rely on CIBIL score and why the parameters of 700 ? are the banks so dumb that they cannot take their own decision .OUR system has to change and the finance ministry has to wake up...further all these so called credit sudhar agencies are again frauds who charge large amounts and do not perform so be careful in getting involved in their misleading and false claims