Bank Balance Details Received by Unathorized Person
4 years ago
I took a personal loan from a well known NBF Company. Due to my financial issues am not paying EMI's on due date and the same EMI amount am paying in the same month end. Due to other EMI my using bank keeping auto debit and taking money bank after salary credit and it is making effect on this NBFC EMI. Have provided auto debit and bank statements of this salary account only to all above said bank and NBFC. Due to this have recently changed my salary account from Current bank to another. But hadn't this account details to above said Bank or NBFC teams. Today one of NBFC guy messaged me as that he got information from his corporate relation as am having bank balance in my second account and asking me to pay EMI. I haven't shared my second bank name, account number or any indications through oral conversation / phone message or mail or WhatsApp message. Is this acceptable to reveal bank balance details of a customer by a Banker to Outers?? What action I can take against this on NBFC and on that employee for the same. Kindly suggest.
It is infringement of your privacy. Even your wife (if married) is not entitled to get such information. You may get issue a legal notice and claim compensation. Secondly recovery by force is not permissible. Ask them to go to civil court. Relevant judgment is as follows which can be applied if you are forced to repay the loan.
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ICCI Bank Limited vs. Prakash Kaur case,
The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.
"We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law," a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.
The court while dismissing the ICICI Bank's plea refused to delete the Delhi High Court's remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.
It also asked the ICICI Bank to to pay Rs 25,000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months, keeping in view the gravity of the allegations.
The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.
According to the court, complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.
Reiterating the RBI Guidelines on Engagement of Recovery Agents, the court said, "The Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period. In case of persistent breach of above guidelines, Reserve Bank may consider extending the period of ban or the area of ban."
"RBI had expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law," Justice Bhandari, writing the verdict for the bench, stated.
RBI in a letter accompanying its April 24, 2008 Guidelines had stated that it might consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period.
ICICI Bank had moved the apex court seeking deletion of some paragraphs in the High Court order which had said that "...the proximate cause of death of the deceased that led him to commit suicide was on account of humiliation caused by the Bank people from where loan was taken by him."
Pavan kumar Gudipati
Responded 4 years ago
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