RBI guideline for banks & Fin institutions on customer credit information

The Reserve Bank of India (RBI) issued directions consolidating various guidelines for banks and financial institutions on reporting customer credit information. As per the directions, credit information companies will have to send alerts through SMS or email to customers when their Credit Information Report is accessed



by specified users. Credit institutions, including banks and Non-Banking Financial Companies (NBFCs), must also inform customers about the reasons for rejecting requests for data corrections. This will help customers understand and address any issues in their CIR.