The formation of Credit Information Bureau of India (CIBIL) made bankers a happier lot. With CIBIL, credit history of borrowers is easily accessible to them and they can also take informed lending decisions now. Today, while CIBIL has managed to cover all major banks, certain hiccups have left borrowers in a tight spot.
In certain cases, due to improper functioning of banks, people land up in trouble. Like in this case a person was approached by a sales executive of a multinational bank with a credit card offer. He already had two credit cards and was not interested in another one. On hearing interesting features including cash back and discounts on shopping, he applied for the credit card.
