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Review your CIBIL report or you may be a victim of identity theft

Thursday, December 27, 2012 by Rajiv Raj

A REAL STORY -Published first time through Creditvidya!


it105n5v3When Parag Yogesh Shah, a Mumbai-based banking sector employee applied for a home loan with State Bank of India (SBI), he was shocked to know that his loan had been rejected for low CIBIL credit score. When he pulled out his own personalized credit score from Credit Information Bureau of India Limited (CIBIL), the premier credit information company, he stumbled upon an extremely unique and a complicated issue at hand.

The CIBIL report showed four different contact numbers. Only one of it belonged to Parag. The report also showed two different residential and two different office addresses. One residential and one office address belonged to him. The report further showed many loans disbursed in the recent past. "What really pulled my score down was two credit card defaults and one credit card over due," said Shah.

How did this happen? In his quest to find the truth he called the numbers mentioned on CIBIL report and that his name is also Parag, but he is Parag Jayesh Shah. Both the Parag's were born on 25 november, 1978 and both of them have been allotted the same PAN number.

Parag Yogesh Shah applied for a permanent account number (PAN) card in 2001 from Ahmedabad, he was allotted a number AQNPS6944A. "Those days PAN card was simple piece of paper which was just laminated. So I applied again when the government introduced plastic cards with National Securities Depository Limited (NSDL). This was in 2005 and I got a new plastic card with the same number," said Parag Yogesh Shah. India has two PAN card issuing authorities. One is NSDL and the other is UTI Infrastructure Technology And Services Limited (UTIITSL)

Parag Jayesh Shah also applied for a PAN card withUTIITSL in 2005 and was allotted the same PAN number. "PAN number is supposed to be unique. How can they allot to two different people?" questioned Parag Yogesh Shah.

Parag Yogesh Shah has got in touch with Income Tax Department of India for a resolution. "But nobody is helping or working towards resolution," said Parag Yogesh Shah. He has served a legal notice and filed a first information report in Mumbai. ParagYogesh Shah continues to wait for a resolution.

MadanRajiv Raj

Rajiv is a credit expert with 10 years of experience in personal finance and consumer banking industry and another 7 years in credit bureau sector. Rajiv was instrumental in setting up India’s first credit bureau, Credit Information Bureau (India) Limited (CIBIL). He has also worked with Citibank, Canara Bank, HDFC Bank, IDBI Bank and Experian in various capacities.

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