Latest Kannada Business news : If there is trouble in taking loan due to wrong credit score then knock on the door of RBI, you will get justice

New Delhi. If you have to take a loan and for some reason something goes wrong with your credit score, then you will not get the loan. Unless your credit score is not good, you will not be able to get the loan even after trying your best. But it is not necessary that your credit score has been disturbed due to your fault. Sometimes the credit score issuer can also be wrong. In such a situation, you have the option of approaching the credit score bureaus. But if he doesn’t listen to you, where do you go?

The solution has been given by the Reserve Bank of India. RBI Governor Shaktikanta Das said on Friday after the Monetary Policy Committee announced an increase in the repo rate, that if the credit score bureau does not listen to you, then you can directly complain to the RBI itself. The Reserve Bank of India (RBI) has announced that individuals having problems with credit information companies such as CIBIL, Experian, Equifax etc. can directly file a complaint with the central bank.

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If the credit bureaus do not rectify the mistake in 30 days, then reach RBI
Credit information companies, commonly called credit bureaus, collect customer data from banks, credit card companies, and other financial institutions. Based on these data, it issues the credit score of a person. On this basis a person becomes a good borrower or a bad borrower. However, it may happen that the information available with the credit bureaus is incorrect and as a result the wrong credit score is not corrected within 30 days. Now if the credit bureau does not rectify your mistake within 30 days, then you can directly complain about it to RBI.

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The Reserve Bank Integrated Ombudsman Scheme-2021 covers transactions with deposits of Rs 50 crore and above from scheduled commercial banks including urban co-operative banks, non-banking financial companies, NBFCs and non-scheduled primary co-operative banks. To make it more comprehensive, it has been decided to bring credit information companies under its ambit. It will provide an open alternative redressal mechanism for complaints against CICs. Apart from this, this decision has been taken with a view to strengthen the internal grievance redressal by the CIC itself.

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