Hi Sir/Madam, would you like to take a personal loan?
Sometimes during an afternoon nap, during a meeting, sometimes outside a temple, and sometimes while driving – this sound has now become an indispensable background in our lives.
It is not just a voice, but an artificial oppression, proclaiming that our names, telephone numbers, and needs are now the property of the market.
When governments raise slogans of ‘Digital India’, at the same time, private banks come to sell the peace of our lives in instalments.
Who gives them our telephone numbers?
This question arises in the mind of every aware citizen today – from where do private banks or loan giving agencies get our mobile number, name, and other personal information?
The answer is simple — we unknowingly hand over this information to the market. When we click on “I agree” without reading it while downloading a mobile application, enter our mobile number on an online shopping website, or fill in our details on a job portal, we hand over our privacy to the market.
Many mobile applications ask for access to our contact list, messages, location, and even our photos. And we, in the name of convenience, give them consent. Later, this information is sold to private banks and sales agents by different middlemen.
This is a form of “data brokering,” in which an individual’s privacy is auctioned off as a valuable commodity.
Why don’t government banks commit such audacity?
While private banks send loan offers on mobile phones day and night, public sector banks operate in a relatively quiet and traditional manner.
Even today, government banks require a lot of paperwork, authenticity of documents, guarantors and many kinds of credentials to get a loan. These banks give priority to service, not sales.
They do not have huge marketing budgets like private banks, nor is there as much competition to give commissions to agents. So, they do not call anyone without being asked.
This is why you never get a call from any Government Bank offering “instant loan facility”, while the private banks see you more as a “lucrative opportunity” than a customer.
No loans, no calls for the poor – why?
People who are really economically backward, who need loans the most, neither get a call nor does any bank representative come to their doorstep.
Such people do not have a “credit score”, their income is irregular, and they have no assets or banking history. So, banks consider them a risk, not a prospect.
At the same time, people who have already paid back a loan on time, those who shop online or those with higher incomes — these are the “targets” for private banks.
Thus, credit facilities do not reach those who really need them, but rather reach those who are already rich.
Is this call not mental harassment?
This question is no longer just a matter of opinion — it has become a real experience. Most people are bothered by unwanted calls four to five times a day.
“Hello, you are approved for a loan up to Rs. 5 lakhs…”
“Just submit one document and get the money today…”
“Your loan is already approved, just the final step is left…”
Even after rejecting these calls, there is no peace. If one number is disconnected, another call starts coming. Despite activating the ‘Please do not disturb me’ service (DND), these calls keep coming.
This is a form of “financial mental violence” — making a person feel like he or she is missing out on an opportunity or falling behind financially if he or she doesn’t take a loan.
Who is selling the data?
This theft of privacy is not done only by banks. There is a big and organized system behind it – which may include mobile service provider companies, various mobile applications, job search portals, insurance sellers, e-commerce companies and even some government websites.
These organisations collect our details through a variety of means, and then often sell them on the open market.
Many times, bank representatives call you and tell you your father’s name, your date of birth, your job, and even your monthly income. This clearly shows that our personal lives have now become a commodity for sale on a public platform.
What is the government doing?
The government passed the ‘Digital Personal Data Protection Bill’ in the year 2023. According to this, no organization should have the right to use your data without your permission.
But in practice, this bill is still limited to paper. Neither the calls have stopped, nor the brokering of data has stopped.
Unless there are strict penalties and clear controls to enforce these rules, citizens’ privacy will remain a mere ridiculous concept.
