Legal Question in Banking Law in India

If any loan account is sub-standard in cibil for 6 months and later becomes standard and closed status in cibil,we also received noc of loan from nbfc.

can we upgrade our previous status of loan as standard,if we are also willing to pay any amount required by nbfc against this loan.

this happens in our commercial cibil(cibil of our limited company)

Asked on 10/15/13, 9:49 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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Dear Sir/ Madam,

CIBIL record is automatically updated once the loan is regular or settled based on the information CIBIL receives from the corresponding bank that has provided the loan. You should inform your bank to inform CIBIL that your loan status should be standard.


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Answered on 10/16/13, 7:29 am

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