I often think about the handling of our personal financial documents by the banks when we apply for Credit Cards. Majority of the times, these documents are being collected by third party agents and high chance that these can be misused. Also what banks do with all the customer data like identity documents, ITRs, Salary slips, etc.? Also in case they do share these details with third party, what happens to the data when application is rejected(ideally when application is rejected, personal data should be deleted/destroyed from their system as no financial service was provided by them)? Just curious to know about these points if anyone can put some light on these.
