A Permanent Account Number (PAN) is a 10-digit alphanumeric number given to you by the Income Tax Department. In India, the use of a PAN card is mandatory in a way. All existing taxpayers or other users who need to furnish income information need a PAN card. Apart from this, any person who wants to do financial or financial transactions and PAN is mandatory, then he also needs PAN. PAN acts like a repository that keeps track of all tax-related transactions of an individual. It allows the Income Tax Department to track the system of making tax payments. This also means that every loan taken from a financial institution is recorded on the respective PAN.
Here we are telling you how any PAN cardholder can check if a loan has been issued in their name:
The credit score tracks all the landing activities of the user which is applicable to the loan as well.
There are also many institutions that keep updating their credit score. These scores provide a way for the financial institution to analyze an individual's repayment history.
Institutions that calculate and record credit scores include CIBIL, Experian, Equifax, or CRIF High Mark.
These institutions can provide users with their latest credit scores. Once you calculate your credit score using any of the above-mentioned credit bureaus it will show the activated loan or credit card under that name.
If you detect an open credit line or a loan that you had not applied for, it may indicate that your PAN card was misused.
You can visit the official website of credit bureaus to get your latest credit score. You will need to enter some of your personal information to generate the latest credit score.
If you find suspicious activity in your credit account, you can report it to that financial organization to get more information about the activity.
