Banks starting to reject ITR as income proof

[sujal]

Recently i mailed my itr to increase my limit but refused to do so
As they are not accepting ITR for limit increase
Any ways to do it?
Need Suggestions....
(SCREENSHOT ATTACHED)

 

[sxchzy]

nope cant do anythin

 

[Yugi]

I guess because for salaried people ITR may have non income such as stocks etc, which is not cash, so they might not accept ITR for Credit Limit Enhancement.

 

[elite34700]

Increase of risk weight is causing this issue I believe. Few banks have stopped considering ITR for super premium cards.

 

[pothi]

I guess because for salaried people ITR may have non income such as stocks etc, which is not cash, so they might not accept ITR for Credit Limit Enhancement.

Isn't it good to consider other income for salaried people by asking them to provide ITR instead of just the recent salary slip?! Salary slip contains only the actual salary. ITR will have STCGT, LTCGT, etc. Those things would show a more realistic nature of one's credit profile.

That said... the recent layoffs in various industries and recent changes by RBI on risk weight are probable reasons for such measures. We can't change such policies.

 

[creditcardkakida]

Bank is not accepting only ITR as income proof due to several cases of bogus ITR filled... To support ITR banks are asking proofs for baking that ITR .. for salaried it is mostly salary slip with salary account statement.. if someone has additional income he has to submit proof of that.. such as rent.. income from dividend... Etc.. for business man.. proof of business .. your account statement showing turnover for the corresponding business...

 

[prem2311]

Recently i mailed my itr to increase my limit but refused to do so
As they are not accepting ITR for limit increase
Any ways to do it?
Need Suggestions....
(SCREENSHOT ATTACHED)

1. It's a bot reply.
2. If you r a self employed - send them the same ITR and mentioned you are self employed with your company details.
3. You can use mail option under help section of your kotak internet banking for better response

 

[Yugi]

Isn't it good to consider other income for salaried people by asking them to provide ITR instead of just the recent salary slip?! Salary slip contains only the actual salary. ITR will have STCGT, LTCGT, etc. Those things would show a more realistic nature of one's credit profile.

That said... the recent layoffs in various industries and recent changes by RBI on risk weight are probable reasons for such measures. We can't change such policies.

Yes, it has other incomes which are not recurring, so to decide credit risk/paying capability they cannot them. To calculate the net worth these are useful but not for credit profiling.