Genuine Support Required

[Deleted member 19066]

I Applied For Federal Bank Credit Card.

Later they Rejected my Application under term " Internal Policies"

Now I Will use bamboo..

I heard that bank must give exact reason for rejection..

Can anyone share RBI master circular which mentioned that bank must provide exact reason n. Etc..

Based on evidences i will take further action.. Just to. Check how consumer is. Protected..

Plz Share info... Documents... N etc

@Tejo

 

[SSV]

I Applied For Federal Bank Credit Card.

Later they Rejected my Application under term " Internal Policies"

Now I Will use bamboo..

I heard that bank must give exact reason for rejection..

Can anyone share RBI master circular which mentioned that bank must provide exact reason n. Etc..

Based on evidences i will take further action.. Just to. Check how consumer is. Protected..

Plz Share info... Documents... N etc

@Tejo

I am also genuinely asking you....
1) why do you need Federal Bank CC?
2) why do you want to waste your valuable time on a PSU Bank?

I know you want to see how the consumer protection rules work.. my point is choose the right target for this..not these sarkari banks. They don't feel proud of their jobs, nor they will be accountable even if they lose the case..they are so thick skinned

 

[Predator]

Internal Policy is one of the 'exact reasons ' which bank can cite for rejection.

Better not to waste time and energy and move on

 

[Deleted member 19066]

I am genuinely asking..
1) why do you need Federal Bank CC?
2) why do you want to waste your valuable time on a PSU Bank?

I know you want to see how the consumer protection rules work.. mynpoint is choose the right target for this..not these sarkari banks. They don't feel proud of their jobs I believe nor they will be accountable

Yes.. It's not about the card but it's all about how rules works...

Actually workouts or. Not.

I E mailed Federal Bank Md. Desk. N got above reply..

It's private sector bank

 

[NShah]

PSU Bank?

🧐 ? ? ?

 

[Deleted member 19066]

Internal Policy is one of the 'exact reasons ' which bank can cite for rejection.

Better not to waste time and energy and move on

No. Time waste... Just draft letter and file complaint...

But i Want Evidences to support my claim..

 

[SSV]

🧐 ? ? ?

Oh sorry..is it not PSU..
Then it's even worse..
A pvt Bank felt like PSU

 

[Predator]

No. Time waste... Just draft letter and file complaint...

But i Want Evidences to support my claim..

Find the RBI Circulars here

Banks should give clear reason for application denial

Ref RBI Circulars: - https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1574 - https://rbi.org.in/Scripts/NotificationUser.aspx?Id=3315&Mode=0 RBI says this. Banks have been advised that in case of all categories of loans irrespective of any threshold limits, including...

www.technofino.in

 

[Deleted member 19066]

Find the RBI Circulars here

Banks should give clear reason for application denial

Ref RBI Circulars: - https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1574 - https://rbi.org.in/Scripts/NotificationUser.aspx?Id=3315&Mode=0 RBI says this. Banks have been advised that in case of all categories of loans irrespective of any threshold limits, including...

www.technofino.in

Txxx sir. For the help

 

[Predator]

share the draft here in case you wish to proceed with it.
Recently Axis rejected my c2c application for a card, which is already available to me in pre-approved offers section, citing internal policy criteria

 

[Aniket]

Internal Policy is one of the 'exact reasons ' which bank can cite for rejection.

Better not to waste time and energy and move on

Internal policies is not the main exact reason, bank must cite based on which particular internal policy, his application was rejected.

 

[Deleted member 19066]

Internal policies is not the main exact reason, bank must citie based on which particular internal policy, his application was rejected.

Yes... Actually.... See... Everyone must fight...for their rights

Either you win or learn something..

 

[Predator]

Internal policies is not the main exact reason, bank must citie based on which particular internal policy, his application was rejected.

it is. RBI happily accepts it as one of the reason
Logic does not work for our banks and regulators, only formality works

 

[Predator]

Yes... Actually.... See... Everyone must fight...for their rights

Either you win or learn something..

But at what cost?
Peace of mind

 

[akshayhs]

2) why do you want to waste your valuable time on a PSU Bank?

🧐 ? ? ?

Panda high af after eating bamboo himself 🤣
🤣🤣🤣

 

[Aniket]

it is. RBI happily accepts it as one of the reason
Logic does not work for our banks and regulators, only formality works

Have you tried raising this concern to Principal Nodal Officer and then RBI Ombudsman, if so what was the reply?

I don't think, internal policy is the main reason, rather it's wholesale/ general answer, actually policy consists of group of guidelines, the bank must state the exact reason (screenshot attached for e.g.), which might be, income, age, CIBIL Score, Credit Repayment History and others.

And if you feel RBI is also baised by accepting such ans from the bank you can raise your concern future in the law of court but we won't to do so(usually)as it may cost heavily, be it mentally, physically or economically.