Mumbai — The Reserve Bank of India has imposed a penalty of Rs 26.82 lakh on TransUnion CIBIL Limited for failing to comply with certain requirements related to compensating customers for delays in updating or correcting credit information.
The RBI said the penalty followed a statutory inspection of the credit information company based on its financial position as of March 31, 2025.
After identifying regulatory compliance deficiencies, the central bank issued a notice asking TransUnion CIBIL to explain why a monetary penalty should not be imposed.
The RBI said that after reviewing the company’s response, additional submissions and statements made during a personal hearing, it determined that TransUnion CIBIL had failed to credit compensation to the bank accounts of certain eligible complainants within the prescribed time.
The penalty was imposed under provisions of the Credit Information Companies (Regulation) Act, 2005, according to an RBI order dated Aug. 31.
The central bank said the action was based on deficiencies in regulatory compliance and does not determine the validity of any transactions or agreements between TransUnion CIBIL and its customers.
The penalty also does not prevent the RBI from taking additional action against the company if warranted.
TransUnion CIBIL is one of India’s major credit information companies, maintaining credit records on individuals and businesses. Its customers include banks, non-banking financial companies, housing finance companies, microfinance institutions and other financial services providers. (Source: IANS)
