HDFC linked phone to a random loan account. Need advise

[zenchill]

I was constantly getting messages from HDFC bank about a loan default for many months on my phone number

I have no relation with HDFC bank nor do I have any loan account with them. My phone number is also with me from last 15 years so cant be an old phone owner linking the same.


I complained to HDFC customer care but they didn’t help. I escalated to nodal officer and they also didn’t help saying we they could not find anything.

Finally I complained with RBI ombudsman and now nodal desk of HDFC has mailed me that they have removed my phone number from a linked loan account on my request.


Thing is I haven’t requested removal of a phone number. It’s a wrong addition in the first place.

HDFC linked a phone number to a loan account with any KYC or OTP etc it seems. Obviously, they didn’t follow RBI fair code practices or guideline.

In their mail they also sent me a mobile number saying call this person if you have more questions. Mo landline number but a personal mobile number of someone.


I have written to them asking these questions and requesting a call back instead.


Can I seek financial compensation in my case? I cant find an exact RBI circular which says adding a phone number to a loan account requires KYC or OTP authentication.

If anyone can suggest me it would be very helpful.



Thanks in advance

 

[Anupama_Jha]

Why do peoples now focusing more and more on compensation instead of getting their issue resolved?

Anyway, All the best 💯

 

[lovecards]

It is probably because the people are not heard right and so the length that they have go to in order to get their issues resolved, had it been that they were heard in the first place and issues resolved efficiently rather than being driven pillar to post, most of the people would have been contained. Ofcourse there are handful looking for opportunities as well

 

[praful47]

Why do peoples now focusing more and more on compensation instead of getting their issue resolved?

Anyway, All the best 💯

After seeing a member in tf getting 50k , 20k compensation making people greedy .

 

[zenchill]

Why do peoples now focusing more and more on compensation instead of getting their issue resolved?

Anyway, All the best 💯

If you get multiple messages and multiple recovery calls and cibil threats for a loan you have nothing to do with it is sheer harassment and a financial penalty is a deterrent. And identity theft and privacy I haven't even mentioned. Banks not checking a phone number with authentication or adequate kyc is sheer negligence on their part. If you have no advice to share don't judge it on compensation alone pls keep you high moral ground to yourself.🙏

 

[Mr. BeanMr. Bean is verified member.]

Finally I complained with RBI ombudsman

Didn't you already ask for (maximum) compensation when you complained?

I cant find an exact RBI circular which says adding a phone number to a loan account requires KYC or OTP authentication.

OTP authentication may be required to avail the loan (but may not be required for some offline loans such as gold loan).

KYC may not require OTP (for example in case of offline verification). A few weeks ago, Bajaj Fin upgraded my wallet (to Full KYC Wallet) by sending a registered post to my address. Ref: https://www.technofino.in/community/threads/37054/

I can't find the exact RBI guidelines, however, the following might be worth a read...

RBI Master Direction on Know Your Customer (KYC)

RBI Master Circular on Loans

 

[zenchill]

Didn't you already ask for (maximum) compensation when you complained?



OTP authentication may be required to avail the loan (but may not be required for some offline loans such as gold loan).

KYC may not require OTP (for example in case of offline verification). A few weeks ago, Bajaj Fin upgraded my wallet (to Full KYC Wallet) by sending a registered post to my address. Ref: https://www.technofino.in/community/threads/37054/

I can't find the exact RBI guidelines, however, the following might be worth a read...

RBI Master Direction on Know Your Customer (KYC)

RBI Master Circular on Loans

Thanks. I did add a random amount in my complaint but it has not come to that as of now.

Thanks for the circulars. I checked these. Seems like checking before adding or linking a phone number to a loan account is a grey area.

RBI circular on prevention of financial frauds" issued on january 17, 2025 addresses that but it's yet to be implemented i think