Dr. Hiten Mehta the founder of Bhavsar & Mehta Company have filed a PIL against CIBIL

Dr. Hiten Mehta the founder of Bhavsar & Mehta Company have filed a PIL against CIBIL, and other such Credit Bureaus where they have added RBI as a party and the matter is pending before the Hon'ble High Court.

In the said PIL they already have thousands of people who have joined this protest via online petition against the credit bureaus.

Accordingly due to this PIL & lots of complaints from Borrowers ,RBI conducted statutory inspections of these credit information companies. RBI's inspection report, supervisory letter and related correspondence revealed that certain data relating to the credit information maintained by TransUnion CIBIL, Equifax Credit Information Services and CRIF High Mark was not accurate and incomplete. Reserve Bank of India (RBI) has imposed a total penalty of Rs1.01 crore on all such four credit information companies (CICs) for inaccurate and incomplete data and not updating credit information within 30 days after receiving complaints from borrowers.

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