Information On What You Can Do As Per Latest RBI Guidelines If Your Credit Score Is Not Reflecting Correctly.

Regulatory Intervention: The RBI has responded to numerous complaints about credit score discrepancies.

Ombudsman Oversight: RBI mandated that credit information companies be brought under the oversight of the RBI Ombudsman

Compensation Framework: If credit scores are not corrected or updated on time, individuals are entitled to ₹100 per day as compensation

Complaint Resolution Period: Credit information companies and credit institutions have a 30-day timeframe to resolve complaints.

Nodal Officers for Resolution: Nodal officers are appointed by banks and lenders to facilitate the easy and fast correction of credit scores.

Notification on Credit Checks: Banks or credit card companies checking an individual's CIBIL score are responsible for updating them through email or messages.

Right to Information: The credit information companies must provide individuals with a comprehensive credit report annually for free.

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