The truth behind a Defaulters List It is true, there is no such list maintained by CIBIL. But banks and RBI maintain a “Bank defaulters list”. All those who have not repaid their loans will find their names have enlisted in such a register. It was quite silly to assume that because his lenders belonged to a small town so his deeds would not surface. In this digital age, all banks work on a centralized platform.
This is basically to keep fraudsters at arm’s length. Many people would fraud at one place, then shift and try to con the bank at another location. • To give such tricksters a miss, banks maintain an overall defaulters list. • As part of protocol, before a loan is sanctioned, banks check this list with Property Loan Interest Rate. This list is not just for internal reference but it is sent to and maintained by RBI. Banks can check each other’s records of default.
To avoid having his name featuring in such an ominous list, he should have spoken to his lenders frankly about his situation. • Even if he wished to move to Mumbai, he should have transferred his loan account to Mumbai and arranged to repay his outstanding debts at the first opportunity. • Source: https://www.creditsudhaar.com/blog/2017/03/14/does-the-loan-defaulter-list-actually-exist/
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