CIBIL REPORT
vasudha murthy
(Querist) 29 May 2011
This query is : Open
I had availed an educational loan from Nationalised Bank.During Nov 2005. Course completed in october 2009. Repayment to start from Nov 2010. EL rules provide that interest accrued during course period can be paid along with principle in equal emi after 1 year from completion of course or getting employment whichever is earlier. However my parents who are also coborrowers agreed to service interest as soon as the loan availed with a good intention of reducing burden later on. However as my mother retired during fag end of interest service period and few instalments became overdue. Bank treated my account as default and reported to cibil during Sep 2009. However after long correspondence and arguments we were able to convince bank that there was no obligation to pay interest before completion of course and any default cannot be treated as NPA and they promised to re phase installments and treat account as STANDARD ASSET.
Is bank wrong in reporting the matter to cibil ? Now after restructuring as Standard asset can I demand removal of CIBIL report?
