RBI introduces new guidelines for credit reporting, enhancing customer notification and data correction rights.

The Reserve Bank of India (RBI) introduced new guidelines to standardize credit reporting by banks and financial institutions. Credit Information Companies must notify customers via SMS or email when their Credit Information Report is accessed. Banks and financial companies must provide reasons if they reject data correction requests. Customers are entitled to compensation if complaints are unresolved within 30 days.

3 months ago
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