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Complaint Details


Posted byDeepak Khanna 
Organization / Product Details
Organization Name
Product/Service Descriptioncredit information report
Warranty StatusDo not know.
Complaint Details
Reason for ComplaintCustomer Service 
Complaint Rating9(in a scale of 1 to 10)
Name of the Company Employeei dont remember 
Complaint Details

As per the Credit Information Companies Regulations Act, under Chapter VI: Information Privacy Principles and Furnishing of Credit Information
"If a credit information company or specified user or credit institution in possession or control of the credit information, has not updated the information maintained by it, a borrower or client MAY REQUEST ALL or ANY OF THEM TO UPDATE THE INFORMATION; whether by making an appropriate correction, or addition or otherwise, and ON SUCH REQUEST the CREDIT INFORMATION COMPANY or the specified user or the credit institution, as the case may be, SHALL TAKE APPROPRIATE STEPS TO UPDATE THE CREDIT INFORMATION WITHIN THIRTY DAYS AFTER BEING REQUESTED TO DO SO"
But when i called CIBIL and informed them that there is an inaccurate information appearing on my credit report and i want them to correct the same, instead of registering my complaint and initiating an investigation with the data provider they refused to take up the complaint saying that "we are only information reporting company and we report the information which is provided by banks. In case of any dispute or incorrect reporting i need to contact bank directly as they are the one who are reporting wrong information".
In this way they have clearly breach the Credit Information Companies Regulations Act and i want the concern authorities to take up this issue seriously to safeguard the consumerís interest.
Now i have been denied credit by other credit institutions on the basis of CIBIL report which is inaccurate.
In such scenarios where bank denies accepting their mistake and update the information with CIBIL and on other hand CIBIL denies to register the consumer dispute poor consumer has nowhere to go.
Hence I request RBI to come up with strict procedures to safeguard the consumerís interest similar to Credit Disputing procedures in developed countries like U.S, U.K and South Africa.

Solution of your complaintTo follow the RBi guidelines and register consumers dispute and initiate the investigation for the same 
ActionI Will complaint to RBI and IBA  
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