Anushka Rathod Instagram – Good news for borrowers!!!
The RBI has set the rule the details of which are in the video!
Let’s understand the same with an example.
Let’s say you filed a complaint on January 1, 2022.
The credit bureau contacts the concerned institution (let’s say Bank A) by January 12, 2022.
If Bank A confirms the details by February 2, 2022 (within 21 days), they’re in the clear.
Now, if the credit bureau sorts out your report and hands it back to you on February 3, 2022 (3 days late), they owe you ₹300.
And you’ll get that compensation in your bank account within five working days of the issue being fixed.
This rule will come into effect from January 1, 2024.
So, if you spot mistakes in your credit report, it’s time to claim what’s rightfully yours!
Source: RBI Circular on Framework for Compensation to Customers for Delayed Updation/ Rectification of Credit Information – Dated 26th Oct’23
#finance #anushkarathod #creditscore #rbi #compensation #banks #creditbureau | Posted on 16/Nov/2023 20:00:09
