ATM :: Your home loan will be rejected if you do not pay your mobile bill


Bhaskar News | Dec 11, 2013, 17:10PM IST

ATM

New Delhi: Defaulters of mobile bill payment will struggle to get home loans sanctioned in their favour. Telecom firms are stacking defaulter customers’ data in centralised software. The data shall then be forwarded to Credit Information Bureau of India limited (CIBIL).

Director General Cellular Operators Association of India, Rajan Mathew, has said that by March 2014, the whole mechanism shall be functional. Once the system is launched, defaulters shall not even be issued with a new credit card from any bank.

Cellular companies’ first objective is to collect outstanding bills from many defaulters. Second, the services shall be enhanced through this system. Through CIBIL under this system, banks shall be tied up with telecom companies. While applying for a home loan in a bank, her telephone payment history will be traced side by side.

Once the system is implemented, defaulters will not even be issued a new phone connexion, even though the application is put to another provider. Thus, the new network will keep all companies informed about all mobile the connections through various network providers.

Source : http://goo.gl/ZNpufA

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