The Supreme Court has helped a person who has been unable to avail financial facilities for years due to negative credit score. The petitioner neither had any outstanding loan nor did he ever delay his payment, hence his CIBIL score was negative.
The bench of Justice JB Pardiwala and Justice KV Vishwanathan was hearing a petition filed by Rajendra Singh Panwar, a resident of Uttarakhand. In the petition, he had said that his CIBIL score is negative since the year 2020, although he has no loan and has not committed any default.
CIBIL score is a three-digit numerical data that summarizes credit history. On the basis of this, a person gets a loan from the bank. In his petition, Rajendra Singh Panwar stated that he has a negative score in his credit profile, due to which he is not able to avail financial facilities.
Rajendra Singh Panwar claimed that the same PAN number was issued to two more persons with the same name and they defaulted in payment several times and this record is recorded in the CIBIL records of Rajendra Singh Panwar. Rajendra Singh Panwar said that even after getting the new PAN, his credit score remained negative due to the link between the new and old PAN. After this, the Supreme Court sought answers from major banks including SBI and PNB and asked them to clarify whether there is any outstanding loan or default on Rajendra Singh Panwar.
In an affidavit filed in the Supreme Court, Punjab National Bank (PNB) informed that it has not found any default against Rajendra Singh Panwar and there is no adverse credit information on record. State Bank of India (SBI) also told the Supreme Court that the information it provided to CIBIL was limited to only those facilities actually availed by the petitioner and which were linked to his updated PAN information. After this, CIBIL told the court that Panwar’s record has now been corrected on the basis of clarification.
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