Non updation of cibil by bank
shashikanth
(Querist) 12 January 2014
This query is : Resolved
Hi,
I had taken a loan of 6 lakhs from axis bank in 2008 and closed it in 2011. The bank however has not updated CIBIL about the account closure.
I am applying for a new housing loan and this new bank told me yesterday that cibil report shows 4 lakhs loan as outstanding.
Is it possible to sue Axis bank for not updating loan closure details to CIBIL??
Kindly answer at the earliest
Devajyoti Barman
(Expert) 12 January 2014
Ask the bank to do so. You can also update CIBIL to do so by placing settlement papers.
shashikanth
(Querist) 12 January 2014
Can i sue the bank for not updated this detail for so long?
Advocate. Arunagiri
(Expert) 13 January 2014
Mr.Sashikanth,
It is the practise of the banks, to say:
Case A. Account settled - if the loan account is settled by reduction in the loan amount.
Case B. Account closed - If the loan amount is paid without any reduction in the loan amount.
In the case A. This is a adverse remark on you. This will affect your rating.
If you are in Case B, you can sue the banker for defamation.
Rajendra K Goyal
(Expert) 13 January 2014
Take a copy of the CIBIL report and after send legal notice to CIBIL and the Bank.
T. Kalaiselvan, Advocate
(Expert) 14 January 2014
Sending a legal notice and waiting for their response will show you the path to proceed further.
Raj Kumar Makkad
(Expert) 14 January 2014
Get NOC from your bank and request it to refresh your account status.
malipeddi jaggarao
(Expert) 16 January 2014
You want two things:
1) Updation of cibil report.
2) taking action against the bank.
For 1) If you have closed your account in normal way in stipulated time, you obtain a statement of account and No dues certificate from the existing banker.
2) In the meanwhile obtain the CIBIL report which indicates outstanding of loan.
2) You can file updation application with CIBIL on your own. Do that.
3) After updation of CIBIL, you obtain another report.
4) Once both the reports on hand, you can decide either take action legally against the bank or not. But before taking such step, consult the banker and demand for reasons. If you are satisfied with their reasons, you can choose to forget the episode. If they are arrogant, they require a lesson and tools are in your hand.
Sudhir Kumar, Advocate
(Expert) 13 January 2014
