| Name of Complainant | |
| Date of Complaint | March 13, 2024 |
| Name(s) of companies complained against | Muthoot Merchantile Limited flagship company of Muthoot Ninan Group of Companies |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I hope this email finds you well. I am writing to bring to your immediate attention a grave issue that has adversely affected me and my family due to the inaccurate reporting practices of Muthoot Ninan Group of Companies to CIBIL.
Recently, I found myself in urgent need of financial assistance and approached a bank for a personal loan. Despite having a commendable CIBIL Score, my loan application was abruptly cancelled due to erroneous information provided by Muthoot Ninan Group to CIBIL. This incident has caused significant distress and hardship for my family, as we were left without the necessary funds for a crucial period of 15 days.
It is deeply concerning that Muthoot Ninan Group appears to have a pattern of negligent reporting to credit bureaus, such as CIBIL, which directly impacts the lives of innocent middle-class individuals like myself. Their reckless behavior has serious consequences, disrupting the financial stability and well-being of countless individuals across India.
I firmly believe that it is imperative for us to take collective action against such fraudulent practices. We must raise our voices and demand accountability from Muthoot Ninan Group for their inaccurate reporting to CIBIL. It is unacceptable that they continue to operate with impunity, disregarding the financial hardships they inflict upon honest citizens.
I urge you to investigate this matter thoroughly and take appropriate measures to rectify the false information provided by Muthoot Ninan Group to CIBIL. Additionally, I implore you to implement stricter regulations and penalties to prevent such incidents from recurring in the future. Our collective efforts are crucial in ensuring a fair and transparent financial system that protects the rights and interests of all individuals.
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