It's unfortunate that people in India are falling into traps that they cannot escape and that is just because we have incompetent authorities that cannot see which organizations are using tools like CIBIL to exploit their clients.

Any Bank can print out CIBIL for any individual if they have their Name, Phone Number, and PAN Card Details.

In India, we are not literate enough to not give anyone our PAN or Aadhar Details. We show it as if it is a toy, which is when Bankers exploit their clients.

Imagine you are going to purchase an apartment and you are enquiring about interest rates from 3 or 4 banks. Do you know what will happen?

Bankers will ask you about your PAN and Mobile Number, or if you have your account, then your personal banker itself will download or print your CIBIL Score, and without you knowing, your CIBIL will drop.

Or, for example, your flat finance guy shared your documents with Bankers, and if you asked that you don't want to go with a private bank or some bank because of some reason, then they will take revenge by deliberately doing a hard inquiry and print out your CIBIL report, which will decrease your CIBIL Score again.

The question is, why does CIBIL allow Banks to download or print out our CIBIL Scores without our consent via OTP?

Also, why is CIBIL an essential part of a Loan Application? Why do they have our financial data firsthand?, and Why do they charge us for rectifying our own data, if we have not shared our details with them in the first place?

Now, some intelligent people will say that these institutes are important and should be there to regulate financial transactions. And they will also claim that you would have agreed on some terms and conditions because of which CIBIL authorities are having your data.

I don't know much about CIBIL, but I knew one thing for sure if you have a loan, and you are not defaulting on your EMIs, so you should not have any issues with getting a loan.

Credit Scores or CIBIL-like authorities have made it difficult for anyone who doesn't want to get associated with them in any way. We have to create our accounts on their website and pay them money to raise a dispute ticket, which is unfair. I mean, why do we have to raise a dispute ticket when we have not even asked for a loan?

And now, as I have already told about Banks' exploitations before, this time, I really feel bad for people who have to take loans from Banks, because Banks will pay loans to anyone who already has money, which totally gets rid of the loan requirements.

Anyone who wants to take revenge on you can directly take out your CIBIL Reports and you will be done.

Maybe these are also the cases why so many suicides happen, even when a person is having a good credit report. They are fed up with this exploitation and cannot cope with this commission-based corrupt authority. I am naming CIBIL again and again because this authority has nothing to do with me or my financials as per my personal requirements, nor I have given them any authority to go through my financial data, still, they have all the required authority over my financials.

Now I know people will say that they do this because they are connected with PAN authorities and income tax divisions or some other Financial Institute in India, but I am really fed up with this corrupt way to extract money from someone who is looking for a loan, and I wish their exploitation is visible to the government or someone.

Like everyone else, I can only cry and shout over the exploitation that banks and these credit score companies do, and not file a case, because I know money is far more powerful than any law or justice, and even if my case would be fair, it will surely be destroyed by the money muscles.

So, I just pray that all these corrupt companies, banks, and institutes (in my opinion) get bankrupt and destroyed. I curse these financial institutes with a life time of misery for anyone who works in these institutes. Even banks and these credit score companies.

I don't know why, but when we write about exploitation done by Banks and financial institutes, we have so much content, and we cannot stop writing. This is basically because these institutes have built their empire on people who cannot afford to pay. Someone who is diligently paying back the debt is not considered a good loan taker. 

These institutes want people who can exert their power and take thousands of crores of money and then fly to some other country, and live happily, and cannot give loans to people who have good credit histories with banks.