INDIAN OVERSEAS BANK REFNO: ADV/"3}3 2018-19 CENTRAL OFFICE DATE: 28.12.2018 763, ANNA SALAL ISSUING DEPT: CREDIT SUPPORT (CHENNAI - 600 002 __ services (e830) CIRCULAR TO AlL BRANCHES /OTHER OFFICES Exemption from Generation of CIBIL reports/ Credit Information reports for Staff Loans (under Welfare Schemes) Preambi Reference is drawn to our depariment’s circulars ADV/76/20'1-15 dated 27.09.2011, adv/433/2013-2014 dated 28.12.2013 and ADV/281/2018-19 dated (04.10.2018 wherein the Credit facilties/Schemes exempted from mandatory drawing of Credit Information Reporls {CIRs) from the permitted Credit Information Companies ore listed. However, clear-cut guidelines were not ‘available for obtention of CIBIL/ Credit Report for Staff Loans. Operational Guid Hitherto, folowing schemes were exempted from mandatory generation of C’BIL FeportiCredit Information report from the permitied Credit Information Companies: 4] Loan against Deposits bb] Pensioners’ Loan Scheme €) Loans fo individuals against NSC. KVP, IVP «) Loans fo Individuals against Insurance Policies opprovedioy IRDA e) Jewel Loans f). Agricultural Jewel Loans, 9) Loan against Government Bonds ete. Now, apart from the aforementioned schemes, our bank ha: approved ‘exemption of mandatory generation of CIBiL. reporl/Credit Information report from the permitted Credit Information Companies for the folowing sta related schemes also: - 4} Statf Consumer Loon bb] DPN Loan/ Cash Creait Faciity ¢) Term Loan {Wedding} ) Staff Vehicle Loan Page 1 of 2€) Festival Advonce {)Allschemes of Statf Housing Loan (including Subhgruha housing loan for Soff fits inked with SHU) 9) Education loan to wards of staff members hi) Winter Loon i) Drought/Flood Loon |) Any other exclusive scheme for stalf under welfare schemes which isnot available to general public. However, CIBiL report/ Credit Information Report must be oblained/generated for loan schemes extended to staff members which are generaly available 10 public vz. Pushpaka loan for fwo/ four wheelers, exclusive Subhgruha Housing Loan (not linked with Staff Housing Loan) etc. and accordingly charges are to be collected, Conclusion: Branches / Other Offices are advised 10 comply with the above guidelines scrupulously. MM, Soran General Manager Page 2012