ICICI Bank
Non-bailable warrant in respect to Non payment of credit card dues

ICICI bank people calls you frequently, even you have explained your financial difficulty (or family member death). One or the representative will call you and threatened you about payment.

They make a call to your company/office officials and explain that you are very bad defaulter.

They often call your family members/ relatives.

As per RBI circular RBI-06 / 211 DBOD.FSD.BC. 49/ 24.01.011/ 06 dated November 21

addressed to the All Commercial Banks / NBFCs (Excluding RRBs) regarding "Credit Card Operations of banks" full copy this is on RBI website.

In page No.2 & 3 of the circular there is clear-cut instructions regarding your information (in case default) no one should share with your family member/office member/relatives or friends.

The are threatening by arguing with you that "NON BAILABLE WARRANT" and police takes you.

In this context, We can send legal notice to ICICI.

No one can issue you a "NON BAILABLE WARRANT" due to non-payment of credit car/personal loan dues.

ICICI people must understand this, They should STOP this non-sense Immediate

(ii) Customer confidentiality

a. The card issuing bank / NBFC should not reveal any information relating to customers

obtained at the time of opening the account or issuing the credit card to any other person or

organization without obtaining their specific consent, as regards the purpose/s for which the

information will be used and the organizations with whom the information will be shared.

Banks / NBFCs should satisfy themselves, based on specific legal advice, that the

information being sought from them is not of such nature as will violate the provisions of the

laws relating to secrecy in the transactions. Banks / NBFCs would be solely responsible for

the correctness or otherwise of the data provided for the purpose.

b. In case of providing information relating to credit history / repayment record of the

card holder to a credit information company (specifically authorized by RBI), the bank / NBFC

may explicitly bring to the notice of the customer that such information is being provided in

terms of the Credit Information Companies (Regulation) Act.

c. Before reporting default status of a credit card holder to the Credit Information Bureau

of India Ltd. (CIBIL) or any other credit information Company authorized by RBI, banks /

NBFCs may ensure that they adhere to a procedure, duly approved by their Board, including

issuing of sufficient notice to such card holder about the intention to report him/ her as

defaulter to the Credit Information Company. The procedure should also cover the notice

period for such reporting as also the period within which such report will be withdrawn in the

event the customer settles his dues after having been reported as defaulter. Banks / NBFCs

should be particularly careful in the case of cards where there are pending disputes. The

disclosure/ release of information, particularly about the default, should be made only after

the dispute is settled as far as possible. In all cases, a well laid down procedure should be

transparently followed. These procedures should also be transparently made known as part

of MITCs.

d. The disclosure to the DSAs / recovery agents should also be limited to the extent that

will enable them to discharge their duties. Personal information provided by the card holder

but not required for recovery purposes should not be released by the card issuing bank /

NBFC. The card issuing bank / NBFC should ensure that the DSAs / DMAs do not transfer or

misuse any customer information during marketing of credit card products.

(iii) Fair Practices in debt collection

(a) In the matter of recovery of dues, banks / NBFCs may ensure that they, as also their

agents, adhere to the extant instructions on Fair Practice Code for lenders (circular DBOD.

Leg. No. BC. 104 /09.07.007 / 2002–03 dated May 5) as also IBA’s Code for Collection

of dues and repossession of security. In case banks / NBFCs have their own code for

collection of dues it should, at the minimum, incorporate all the terms of IBA's Code.

(b) In particular, in regard to appointment of third party agencies for debt collection, it is

essential that such agents refrain from action that could damage the integrity and reputation

of the bank / NBFC and that they observe strict customer confidentiality. All letters issued by

recovery agents must contain the name and address of a responsible senior officer of the

card issuing bank whom the customer can contact at his location.

(c) Banks / NBFCs / their agents should not resort to intimidation or harassment of any

kind, either verbal or physical, against any person in their debt collection efforts, including

acts intended to humiliate publicly or intrude the privacy of the credit card holders’ family

members, referees and friends, making threatening and anonymous calls or making false and

misleading representations.

PLEASE READ ABOVE CAREFULLY

Company: ICICI Bank
Country: India
State: Maharashtra

  <     >