You filed the dispute and nobody fixed the entry. The delay itself now carries a price tag, and the Reserve Bank of India has set it at ₹100 for every calendar day past 30. You need not prove a rejected loan or any loss, only the date you complained.
The rule, in RBI's own words: “Complainants shall be entitled to a compensation of ₹100 per calendar day in case their complaint is not resolved within a period of thirty (30) calendar days from the date of the initial filing of the complaint by the complainant with a CI/ CIC.” That is paragraph 2(a) of RBI Notification RBI/2023-24/72, reference DoR.FIN.REC.48/20.16.003/2023-24, dated 26 October 2023.
Short on time? Get your figure from the table below, then use the steps that follow.
The notification is titled “Framework for compensation to customers for delayed updation/ rectification of credit information”. RBI issued it under sub-section 1 of section 11 of the Credit Information Companies Regulation Act, 2005. It binds both sides of your problem: credit institutions, meaning banks, co-operative banks and NBFCs, and credit information companies, meaning the bureaus. RBI has named TransUnion CIBIL, Equifax and CRIF High Mark in penalty orders, and Experian operates alongside them.
The framework “shall come into effect six (6) months from the date of this circular”, which counts forward to 26 April 2024. Ignoring it invites penal action under the same Act.
| Event | What the rule says |
|---|---|
| You file the correction request with a lender or a bureau | Day 0, the clock starts |
| The lender sends corrected data to the bureau | Within 21 calendar days |
| The bureau completes the correction | Within 30 calendar days of your filing |
| Rectified report is sent to your email or postal address | This is the date of resolution |
| Every calendar day after day 30 | ₹100 |
The 21 and 9 day split is not invented. Section 21(3) of the Act allows 30 days for the update, and Rule 20(3)© of the Credit Information Companies Rules, 2006 gives the lender 21 days to forward corrected particulars. Reading them together, RBI said the lender gets 21 days and the bureau “effectively” gets the remaining 9.
A worked example. Meera closed a two-wheeler loan, but the account kept showing as active.
The NBFC missed its 21 day leg while the bureau moved as soon as it had data, so the NBFC carries the whole ₹3,000. The amount never doubles. It is one entitlement of ₹100 a day, and where both are late RBI says it “shall be apportioned among the CIs/ CICs concerned proportionately”. Where wrong data came from more than one lender, register with the bureau, which must coordinate with all of them and give you one resolution.
Diary a date 15 days out. No credit or explanation by then, escalate.
RBI kept four things outside it:
Wrongful denial lets you go to the RBI Ombudsman. The circular names the 2021 Integrated Ombudsman Scheme, but the live edition is the 2026 one, in force from 1 July 2026, which covers credit information companies by name. From RBI's own scheme FAQ:
If your lender is not yet covered, the circular points you to the Consumer Education and Protection Cell at an RBI Regional Office.
Most guides get this wrong. The Right to Information Act, 2005 binds a “public authority”. Section 2(h) covers bodies set up by or under the Constitution, by a law of Parliament or a State Legislature, or by government notification, plus any body “owned, controlled or substantially financed” by government funds.
RTI yields documents, not the correction and not the money. But a dated official record of when you complained turns a “we never received it” defence into a losing one. The AI RTI Drafter builds the application; the RTI Act, 2005 has the section text.
₹100 for every calendar day beyond 30 days from the date you first filed the correction request. The clock stops when the rectified report is sent to the email or postal address you gave. A 60 day total means 30 days of delay and ₹3,000. No cap, and no proof of loss needed.
On the date of the initial filing of your complaint with the lender or the bureau, whichever you approached first. Not the date they acknowledged it, and not the date they escalated it internally. That is why a dated acknowledgement with a reference number is the paper that matters most.
Whichever one caused the delay. The lender pays if it missed its 21 calendar day window to send corrected data to the bureau. The bureau pays if it missed the 30 day window despite getting correct data in time. Where both dragged their feet, RBI apportions the amount between them proportionately, and your total stays ₹100 a day.
By bank credit, within 5 working days of the complaint being resolved. RBI ordered lenders and bureaus to add a complaint-form field for your bank account or UPI ID precisely so this can happen. If you left it blank, fill it in and resend.
Wrongful denial is itself a ground to approach the RBI Ombudsman. Complain to the entity first, wait 30 days or take their reply, then file free at cms.rbi.org.in within 90 days. The Ombudsman can also award up to ₹30 lakh for consequential loss and ₹3 lakh for harassment.