Summary:
Mishra, in his plea said that the bank uses credit information companies such as Trans Union CIBIL report as a factor for making decision on granting of the loans, even the decision of the rate of interest charged on the loan depends on the Credit Information Companies. He also told the court that sharing of PAN and other transactions with credit rating agencies affects the right to privacy of an individual. The court was hearing the plea filed by Abhijit Mishra through advocate Payal Bahl who has sought direction to RBI to frame a police to regulate these practice. A bench of Chief Justice Rajendra Menon and Justice Kameswar Rao issued notice the Finance Ministry and RBI and listed the matter for further hearing on May 21. New Delhi: The Delhi High Court on Friday asked Centre and Reserve Bank of India to file response to a plea seeking protection of privacy of the customer by immediately stopping the bank to share the details of the transactions of the customers and borrowers based on PAN..