Sale of customer details by bank

Can the banks share details to outsiders ?

Everyday we will be getting minimum 2 calls from banks for loan or credit cards etc ..

Why this is happening ?

Can the banks allowed to share the customers contact numbers to outsiders ?

Isn't against RBI guidelines ?
Replies (6)
Quick Summary
This discussion explores whether banks are legally allowed to share customer contact details with external parties, leading to frequent calls for loans and credit cards. While banks are generally advised to keep customer information confidential, it's suggested that these calls often come from outsourced agencies working on behalf of banks. The thread also touches upon the possibility of data leaks from other sources, like social media, contributing to unwanted calls and potential fraud.

Banks are advised to treat the information collected from the customer for the purpose of opening of account as confidential and not divulge any details thereof for cross selling or any other purposes
It's true that banks are selling or the customers details are going to spamsters and fraudsters..
If you have registered your mobile number in social media websites then you may get unwanted calls and messages..

The lapse need not be from Bank end
Who is calling for credit cards and loans ?
Aren't the calls from banks ?
Mostly calls we receive are from outsourced agencies working for banks rather than banks directly.
We can easily figure out from the way they speak. Additionally they keep in calling in different number each time, making it difficult to block.
Who is responsible for those unwanted calls from spamsters and fraudsters ?

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