Legal Question in Banking Law in India

Respected sir, I am from Chennai. Taken a personal loan from a bank for about 1 and half lakhs. I had defaulted in paying a month's EMI for about a week, since I was out of station. Bank had contacted my uncle and told him that I had defaulted. Can a bank reveal that I had defaulted EMI to a third person? I had given my uncle's number as a reference number at the time when I took the loan. If it is wrong from the bank's side what kind of a judicial step I can take?? Looking for a response..


Asked on 9/01/14, 3:15 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

01.09.2014

Dear Sir / Madam,

Since you have provided your Uncle's contact number as a reference, the bank has every legal right to inform your Uncle in the event you defaulted in the repayment of the EMI.

Regards,

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Answered on 9/01/14, 4:14 am


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