Cibil Score Update: Given the complaints of customers related to the CIBIL score, now RBI (RBI update rules) has issued new rules regarding the CIBIL score. After the implementation of these rules, all the problems related to CIBIL of the customers will be resolved on time and they will also find it easy to get a loan.

The central bank has also instructed banks and credit companies to strictly follow these rules (RBI cibil score rules). RBI has also made a provision in these rules to impose a penalty on the concerned bank or credit company for violating the rules. Let us know about the new rules related to the CIBIL score (cibil score new rules) in the news.

1- Information will have to be given after checking the CIBIL score-

RBI has fixed many rules (cibil score ke niyam) regarding CIBIL score. According to them, if any credit information company, bank, or NBFC checks the CIBIL score or credit report (CIBIL Score) of an account holder, then they will give information about this to that customer.

So that the customer can also know about this. This information can be given to the customer through SMS or email. RBI had received many complaints regarding the CIBIL Score, after which RBI has issued new guidelines.

2- Request will not be rejected without giving a reason-

The biggest benefit that bank customers will now get is that the request made for credit or loan (loan process) will not be rejected without giving a reason. For this, banks will have to give the reason for rejection.

According to the new rules set by the Reserve Bank of India, on knowing the reason for rejection, it will be easy for the customer to understand why the request was canceled. It is also very important to make a list of this and send it to all credit institutions.

3- Credit companies should provide this facility free once a year-

RBI has instructed credit companies to provide full credit reports (CIBIL Score Full Report) to customers for free. Companies will have to provide this facility free once a year. With this, customers will know their CIBIL score and credit history and will feel comfortable in taking loan and credit related decisions. Credit companies can display a link regarding this on the website.

4- Banks will give information before default-

Now in the new rules, RBI (RBI new guidelines) has decided that banks cannot directly default a customer. For this, prior information is necessary. It is necessary to inform the customer before the default report. For this, banks can give information through SMS or e-mail. For this, banks or NBFCs (non-banking finance companies) can appoint a nodal officer. The nodal officer will also monitor to solve the problems related to the credit score of the customers.

5- The problem should be solved within 30 days-

If a customer has a problem related to the CIBIL score, then the bank (bank news) and the credit information company will have to solve it within 30 days. After receiving the complaint from the customer, the bank will have to inform the credit company within 21 days.

After this, the credit information company will have to solve the problem (credit score rules) within 9 days. If there is any delay in this, a fine of Rs 100 will be imposed per day.

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