Credit Card default settlement - with the help of BCSBI

ABOUT BCSBI

The Banking Codes and Standards Board of India is an independent and autonomous watch dog to monitor and ensure that the Banking Codes and Standards adopted by the banks are adhered to in true spirit while delivering their services.

BCSBI is a boon for Indians under financial stress and who are credit card/loan defaulters. If anybody approaches BCSBI, the board will carefully examine one’s case and then recommend a workable solution to the applicant as well as the Nodal officer of the bank. However, you should be genuine with your information.

Procedure for settling your Credit Card / Loan Default:

Þ    Collect the defaulting Account details

Þ    Write a brief cover letter marked to the Officer BCSBI, Mumbai on why you have defaulted; what was your original amount, how much interest has accumulated over it, explaining your case.

Þ    Download and Print the BCSBI Credit Counselling Form [PDF]

Þ    Fill the BCSBI Form and send all the documents to Banking Codes and Standards Board of India C-7, 4th Floor, Reserve Bank of India Building, Bandra Kurla Complex Bandra (East)Mumbai – 400 051.

BCSBI will examine the case and guide you with its advice, and it will also recommend the Bank to consider your case for settlement.  You can also refer our Credit Card Default Settlement - Step by Step Guide also.

back to Credit Card Default Settlement