Does ICICI bank send private agents to collect documents?

Jaguar · 29th January 2008, 15:15

Hi All,

I had taken a new car loan from ICICI 3 months back. Yesterday I got a call from one guy saying that he is from ICICI and wants a copy of the vehicle RC Book for updating their records. When he came to meet me today, I asked for an ID. He shows me an ID from some VM Associates and says that they are the collecting agents of ICICI. He didn't have any ID from ICICI. He says, had I requested earlier, he would have got a request letter from ICICI. I refused to give him the documents unless I see any valid ID.

Later, when I called up ICICI, they have no records with them as to if someone has been sent on their behalf to collect the documents or not. The phonebanker says, ICICI might have sent some private agency for collection. On asking him what I should do, he says I can give to documents at any ICICI bank branch. I have asked for an official letter from them asking for the documents before I submit anything.

I am not sure if the person who contacted me is genuine or a fraudster? Have any of you faced a similar issue before?

- Ramesh

sgiitk · 29th January 2008, 15:20

You did the right thing. Someone can easily use a copy of the RC for identity theft.

akroy · 29th January 2008, 15:25

You did the right thing. I also have a car loan for 2 years from ICICI and no one ever called me so far. Everything is settled with the bank and then only you are handed over the car by the dealer.

As long as you are paying the EMI regularly, no one from bank will ever harass you. Your case looks like some fraudster trying to bully you.

Abhi

snaronikar · 29th January 2008, 15:26

Do not hand over any originals to the unknown persons other than the Bank authorised person. Adding my 2 cents.

jayguar · 29th January 2008, 15:34

I have also heard about these collecting agents. Good thing you did not provide any documents to that person. In most cases these collecting agents could be frauds. Previously I have seen ICICI sending private agents who along with thugs go to collect money from people who have not repaid the loan amount.

praJEEP · 29th January 2008, 15:56

Quote:

Originally Posted by snaronikar

Do not hand over any originals to the unknown persons other than the Bank authorised person. Adding my 2 cents.

Adding my 2 cents,they didn't ask originals, they asked a photocopy of the rc book.

Ramesh please go to icici bank hosur road and ask them why they require a copy of your rc book.
calling them would be of no use they should be having a copy of it while processing the loan of your car.

Jaguar · 29th January 2008, 16:14

Thanks for the quick replies guys.

The bank claims it needs the RC book copy to update the vehicle no. in their records.
As the loan is sanctioned before the vehicle is registered, they don't have that info it seems. What I don't understand is why can't they collect the required info from the dealer directly as their agent(s) works at the dealership itself.

- Ramesh

HappyWheels · 29th January 2008, 17:09

it seems to be nonsense. 3 years after I got my loan from ICICI and one month away from closing it, I never had a call for RC copy or any agent visiting me.

I would say, forget it. if your loan has been sanctioned and your emi is being deducted, then thats it.

as you mentioned, they can always get this info from the dealer with whom they work with an exec sitting there!

WhiteKnight · 30th January 2008, 12:40

Quote:

Originally Posted by Jaguar

The bank claims it needs the RC book copy to update the vehicle no. in their records.

Please don't go to the branch to give details etc. It is their monkey, and let them come and collect it, if they want. Sit back and enjoy!

Lalvaz · 30th January 2008, 12:52

Had an ICICI car loan. Just paid the last EMI in Dec 07. Never been asked for any docs post loan sanction. You did the right thing by refusing to give them the photocopies of the RC book. Please refuse to hand over any documentation to any pvt party under any circumstances. ICICI does not require any details from the customer post loan sanction. All the paperwork is done prior to sanction. Incase any documentation is missing, ICICI will contact the customer directly, and not via any agency. This information was provided to me by a senior exec from ICICI at the time of my loan sanction.

Kool_Kid · 6th February 2008, 15:18

I have taken a car loan from SBI , 6 months after the paurchase i got a letter from them asking for these details :

1) Insurance
2) RC
3) final recipt of payment made

I went to the central branch . and gave them photo copy of the documents . the manager also told me to send them a copy of renewed insurance ( when ever i get them )

OT : all Loans have been Centralizes in SBI ( to one branch) infact all customer are getting harrased due to shortage of staff at loan department.

29th January 2008, 15:15	#1
Jaguar Senior - BHPian Join Date: May 2006 Location: Bangalore Posts: 1,208 Thanked: 2,545 Times	Does ICICI bank send private agents to collect documents? Hi All, I had taken a new car loan from ICICI 3 months back. Yesterday I got a call from one guy saying that he is from ICICI and wants a copy of the vehicle RC Book for updating their records. When he came to meet me today, I asked for an ID. He shows me an ID from some VM Associates and says that they are the collecting agents of ICICI. He didn't have any ID from ICICI. He says, had I requested earlier, he would have got a request letter from ICICI. I refused to give him the documents unless I see any valid ID. Later, when I called up ICICI, they have no records with them as to if someone has been sent on their behalf to collect the documents or not. The phonebanker says, ICICI might have sent some private agency for collection. On asking him what I should do, he says I can give to documents at any ICICI bank branch. I have asked for an official letter from them asking for the documents before I submit anything. I am not sure if the person who contacted me is genuine or a fraudster? Have any of you faced a similar issue before? - Ramesh
	() Thanks

29th January 2008, 15:20	#2
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	You did the right thing. Someone can easily use a copy of the RC for identity theft.
	() Thanks

29th January 2008, 15:25	#3
akroy Senior - BHPian Join Date: Feb 2006 Location: San Francisco, CA, USA Posts: 2,423 Thanked: 85 Times View My Garage	You did the right thing. I also have a car loan for 2 years from ICICI and no one ever called me so far. Everything is settled with the bank and then only you are handed over the car by the dealer. As long as you are paying the EMI regularly, no one from bank will ever harass you. Your case looks like some fraudster trying to bully you. Abhi
	() Thanks

29th January 2008, 15:26	#4
snaronikar Senior - BHPian Join Date: Jun 2007 Location: Bengaluru Posts: 2,845 Thanked: 29 Times View My Garage	Do not hand over any originals to the unknown persons other than the Bank authorised person. Adding my 2 cents.
	() Thanks

29th January 2008, 15:34	#5
jayguar BHPian Join Date: Oct 2007 Location: Chennai Posts: 300 Thanked: 218 Times	I have also heard about these collecting agents. Good thing you did not provide any documents to that person. In most cases these collecting agents could be frauds. Previously I have seen ICICI sending private agents who along with thugs go to collect money from people who have not repaid the loan amount.
	() Thanks

29th January 2008, 16:14	#7
Jaguar Senior - BHPian Join Date: May 2006 Location: Bangalore Posts: 1,208 Thanked: 2,545 Times	Thanks for the quick replies guys. The bank claims it needs the RC book copy to update the vehicle no. in their records. As the loan is sanctioned before the vehicle is registered, they don't have that info it seems. What I don't understand is why can't they collect the required info from the dealer directly as their agent(s) works at the dealership itself. - Ramesh
	() Thanks

29th January 2008, 17:09	#8
HappyWheels Senior - BHPian Join Date: Dec 2007 Location: Bangalore Posts: 4,106 Thanked: 537 Times	it seems to be nonsense. 3 years after I got my loan from ICICI and one month away from closing it, I never had a call for RC copy or any agent visiting me. I would say, forget it. if your loan has been sanctioned and your emi is being deducted, then thats it. as you mentioned, they can always get this info from the dealer with whom they work with an exec sitting there!
	() Thanks

30th January 2008, 12:52	#10
Lalvaz Senior - BHPian Join Date: Jul 2006 Location: Bombay Posts: 1,414 Thanked: 2,183 Times	Had an ICICI car loan. Just paid the last EMI in Dec 07. Never been asked for any docs post loan sanction. You did the right thing by refusing to give them the photocopies of the RC book. Please refuse to hand over any documentation to any pvt party under any circumstances. ICICI does not require any details from the customer post loan sanction. All the paperwork is done prior to sanction. Incase any documentation is missing, ICICI will contact the customer directly, and not via any agency. This information was provided to me by a senior exec from ICICI at the time of my loan sanction.
	() Thanks

6th February 2008, 15:18	#11
Kool_Kid BHPian Join Date: Jun 2006 Location: Delhi Posts: 165 Thanked: 15 Times	My case I have taken a car loan from SBI , 6 months after the paurchase i got a letter from them asking for these details : 1) Insurance 2) RC 3) final recipt of payment made I went to the central branch . and gave them photo copy of the documents . the manager also told me to send them a copy of renewed insurance ( when ever i get them ) OT : all Loans have been Centralizes in SBI ( to one branch) infact all customer are getting harrased due to shortage of staff at loan department.
	() Thanks