CRIF High Mark Credit Information Services Private Limited

RBI imposed a monetary penalty of Rs 25.75 lakh on CRIF High Mark Credit Information Services Private Limited, Mumbai. The action was for non-compliance with CIC law and rules relating to credit-information accuracy and borrower complaint handling.

The company must bear the penalty and address the compliance deficiencies identified by RBI, especially around accuracy/completeness of credit data and timely borrower complaint resolution. The action does not invalidate past transactions, but it signals continued supervisory scrutiny over the company’s credit-information reporting and customer grievance processes.

• clause (iii) of sub-section (1) of section 25 read with sub-section (4) of section 23 of CIC (R) Act
• Credit Information Companies (Regulation) Act, 2005
• Credit Information Companies Rules, 2006

RBI imposed a Rs. 1 lakh penalty on CRIF High Mark Credit Information Services Private Limited. The action was for not ունենալ?

CRIF High Mark Credit Information Services Private Limited must absorb the Rs. 1 lakh penalty; the release does not describe any additional operational restriction or ongoing corrective direction. The forward-looking impact is limited to the financial penalty and the compliance signal to ensure statutory management requirements are met.

• Sections 9(1) and 9(2) of the Credit Information Companies (Regulation) Act, 2005 (CICRA)
• Section 23(4) of the CICRA