HDFC Bank sharing data with other banks for loans

[arunshkl]

On 24th of December 2024 I had placed a personal loan inquiry and that too out of curiosity as I was getting promotional message of low interest rate, I received a call on the same day from some executive pf hdfc and things didn't worked out but on 25th dec and 26th dec i have received 100 of calls from other bank asking me about my loan requirement, I want to know that does anybody have any idea how other bank came to know about my loan inquiry? I had complained to hdfc that your people are sharing data of unsuccessful lead with their friends from other bank and they say that it is not possible.

 

[helloworld]

which places did you checked your credit score?

 

[helloworld]

which places did you checked your credit score?

also, ever wondered what these three checkboxes and their respective links do when you check credit card, loan or even slight banking change?



2. I hereby authorize HDFC Bank Limited (“Bank” which expression shall be deemed to include its successors and assigns) to Process, the Data or any part thereof, for any of the Specified Purposes:

i. in connection with assessment or processing of the application/ request for any Requested Product, or in order to take any steps prior to entering into any contract, or to determine eligibility for the Requested Products, or in connection with execution or furtherance of a contract/ transaction, performance by Bank or me/us or any other intermediaries, of any contract or part thereof or any regulatory or legal obligations in relation to any Requested Product availed or in pursuance thereof;

ii. in connection with Derivation and sharing any Derivative Data (between Bank and any Processing Entity) in connection with the aforesaid purposes;

iii. in connection with contacting, establishing contact, whereabouts, including through email, postal address, telephone, social media, banners on applications/ electronic platforms, notifications, website, premises of third parties/ other persons, for monitoring the performance of the account or for monitoring for suspicious activities, transactions, fraud detection, prevention, reporting, alerting others;

 

[TechnoFi]

On 24th of December 2024 I had placed a personal loan inquiry and that too out of curiosity as I was getting promotional message of low interest rate, I received a call on the same day from some executive pf hdfc and things didn't worked out but on 25th dec and 26th dec i have received 100 of calls from other bank asking me about my loan requirement, I want to know that does anybody have any idea how other bank came to know about my loan inquiry? I had complained to hdfc that your people are sharing data of unsuccessful lead with their friends from other bank and they say that it is not possible.

It's a common practice among various banks.