Anurag Bajpai, a Marketing Executive at NBCC (India) Limited, alleges that Kotak Mahindra Bank issued a two wheeler loan using his PAN card without his consent. Despite escalating the matter to the bank’s Nodal Officer over a month ago, no resolution has been offered. Choice4Voice.com highlights this critical case of alleged digital fraud.
Complaint Summary Table
| Complainant Name | Anurag Bajpai |
|---|---|
| Position | Marketing Executive at NBCC (India) Limited |
| Bank Involved | Kotak Mahindra Bank |
| Issue Reported | Wrong loan issued against PAN without consent |
| Type of Loan | Two-Wheeler Loan |
| Complaint Raised To | Nodal Officer, Kotak Mahindra Bank |
| Complaint Date | Over a month ago (as per LinkedIn post) |
| Current Status | No action or resolution from the bank |
| Impact Mentioned | Mental stress, potential credit score damage |
| Original Source | LinkedIn (Anurag Bajpai’s post) |
| Post Link | Linked Post Link |
A Serious Allegation: Kotak Bank Under Fire for Alleged Loan Fraud
Anurag Bajpai, who serves as a Marketing Executive at NBCC (India) Limited, recently took to LinkedIn to expose a disturbing issue involving Kotak Mahindra Bank. According to his post, a two-wheeler loan has been wrongly linked to his PAN card, even though he has never applied for any such financial product from the bank.
Key Highlights from the Complaint:
- PAN card misused to issue a loan without his authorization.
- The complainant has never signed or requested any loan from Kotak Mahindra Bank.
- A formal complaint was raised over 30 days ago with the Nodal Officer.
- Despite repeated follow-ups, no resolution or acknowledgment has been received.
- The matter is now causing mental distress and may negatively impact his credit profile with agencies like TransUnion CIBIL.
Understanding the Risks of Wrong Loans Issued Against PAN
Issuing a loan without consumer consent can have severe consequences, especially when it involves sensitive documents like PAN cards. Here’s what’s at stake:
🚨 Possible Outcomes of Unauthorized Loan Issuance
| Risk Factor | Consequences |
|---|---|
| Credit Score Damage | Affects loan eligibility, EMI affordability, and interest rates |
| Mental Stress | Continuous anxiety about recovery notices and credit score alerts |
| Legal Hassles | Threats of legal action or collections from third-party agencies |
| PAN Misuse Repeatability | If not stopped, fraudsters may use PAN again for other financial frauds |
What Kotak Mahindra Bank Must Do Immediately
As one of India’s leading private banks, Kotak Mahindra Bank must take swift and transparent action in such matters to uphold consumer trust.
Required Actions:
- Initiate an Internal Investigation: Validate the legitimacy of the loan issued.
- Immediate Communication: Contact the complainant and confirm steps being taken.
- Suspend Recovery Proceedings: Ensure no EMI, interest, or penalty is levied on a fraudulent loan.
- Rectify Credit Reports: Work with CIBIL and other bureaus to reverse the wrong data.
What Victims of PAN-Based Loan Fraud Should Do
If you discover that a loan has been taken using your PAN card without your knowledge, follow these steps immediately:
✅ Immediate Action Plan for Consumers:
- Check CIBIL Report: Visit https://www.cibil.com to download your credit score and report.
- File Complaint with the Bank’s Nodal Officer: Include a copy of your PAN, CIBIL report, and any false loan records.
- Raise Grievance with RBI CMS: File a complaint at https://cms.rbi.org.in.
- Report to Cyber Crime: Log your complaint at https://cybercrime.gov.in to report PAN misuse.
Why This Matters: Protecting Consumer Identity in Digital Banking
As banks increasingly move toward digital KYC and loan approvals, the responsibility of data protection becomes more critical. If a reputed institution like Kotak Mahindra Bank fails to respond to identity-based fraud, it sends a worrying message to customers across the country.
This case highlights a growing need for:
- Transparent grievance redressal systems.
- Strict verification protocols before loan approval.
- Easy mechanisms to opt out of pre-approved or partner-based loans.
Powered by Choice4Voice.com: Standing Up for Every Consumer
Choice4Voice.com is India’s emerging platform for consumer advocacy, ensuring every citizen’s complaint gets the visibility it deserves.
We help:
- Consumers whose complaints are ignored by companies.
- Victims of banking fraud, mis-selling, and poor service.
- People who need public attention to fight powerful organizations.
If you or someone you know has a similar unresolved issue,
📢 Submit your complaint now at www.Choice4Voice.com where your voice becomes your power.
Note:
This article is based on the publicly shared experience of Anurag Bajpai, Marketing Executive at NBCC (India) Limited.
Choice4Voice.com publishes such verified consumer stories to drive awareness and accountability. We stand with every Indian consumer whose voice deserves to be heard on platforms like this.
