CIBIL Score new rule: RBI made 6 new rules on CIBIL score, customers will get big benefit..

CIBIL Score Update: To keep the CIBIL score right, loan EMI has to be paid on time, along with this many types of bill payments also have to be made on time. If unable to do this, the CIBIL score becomes bad (bad cibil score). Now RBI has made 6 such rules regarding CIBIL score, which will benefit the bank (bank news) customers. Consumers had to struggle with many types of problems related to CIBIL score, but now customers will get a lot of relief.

RBI was constantly receiving complaints-

It is not necessary that every time the CIBIL score (cibil score rules) becomes bad due to the mistake of the bank customer, it also becomes bad due to lapses on the part of banks and credit institutions. Such complaints were also received by RBI (RBI rules for cibil score). Due to this, now 6 new rules have been made regarding the CIBIL score, which is in the interest of the customers.

1. Now CIBIL score will be updated quickly-

According to the new rules, now CIBIL score (cibil score new rules) can be updated twice a month. It will be updated every 15 days. This will benefit the bank and bank customers a lot. With this, banks (bank update news) will be able to make the right decision to give a loan to someone on time and customers will be able to decide to take a loan properly on time. Now it has been ensured for banks, NBFCs (NBFC cibil score rules), and credit institutions to follow these rules.

2. Information will be received about the CIBIL score check-

Now whenever the bank checks the CIBIL score of a customer (how to check cibil score), it will inform the customer that his CIBIL score has been checked. RBI (Reserve Bank of India) has warned all banks and NBFCs about this. Be sure to tell the customer about this through SMS or email. Credit information companies should also be aware of this.

3. This work will not be done secretly-

The Reserve Bank of India (RBI new rules) has clearly stated in its instructions that any request of a customer cannot be rejected secretly. The bank (Bank News) will tell the customer why any of his requests were rejected. Giving the reason for this, the bank will make a list of such cases and send it to all the credit institutions (rules for Credit Institutions).

4. Free full credit report will be available in a year-

According to RBI rules (RBI's new CIBIL Score rules), now credit companies will give free full credit score reports to their customers once a year. The credit company will display the link on the website so that the customer can know the complete credit report. With this, they will be able to check their CIBIL score and full credit history.

5. Customer will have to be informed about the default report-

If any customer has to report default (loan default), then the customer will have to be informed about it. Banks will give this information through SMS or e-mail. RBI has also asked the loan-giving banks and NBFCs to appoint nodal officers, these nodal officers will monitor the credit score problems.

6. The problem will be solved in 30 days -

Now the problem related to CIBIL score can be solved in 30 days. The credit information company will be bound to solve the problem within 9 days after receiving the information from the bank. At the same time, the bank (bank rules for cibil score) will also look into the problem at its level within 21 days after receiving the complaint from the customer. If this is not done, then the one at whose level there is laxity will pay a fine of Rs 100 per day (fine on not updating cibil).

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.