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Credit Information Bureau of India Limited (CIBIL), now renamed as TransUnion CIBIL, is the most popular company specialising in credit information in India. CIBIL ranks individuals and businesses in India basis the data procured from credit institutions and assigns them a CIBIL Score or Rank respectively. This Score determines an individual’s eligibility for getting a loan from banks and financial institutions, while the CIBIL Rank is essential for businesses to secure credits from such institutions.
Since CIBIL is trusted with large volumes of consumer credit information, disputes and grievances are not a rarity. Thus, the CIBIL Grievance Redressal Cell has been established to address and resolve disputes and grievances. Any error in the Credit Report can be rectified by filling up the CIBIL online dispute form available on their website.
The types of grievances addressed by CIBIL are:
When an individual wants to approach CIBIL with any of the above type of grievance, CIBIL initiates the following redressal process.
CIBIL abides by 5 tenets of the Grievance Redressal Policy to resolve grievances and ensure the best services, within the stipulated timelines mentioned in its guidelines.
CIBIL disputes can be broadly categorised into 2 types – company disputes and individual disputes. However, there are several kinds of disputes that can arise under these two classifications, which may adversely affect the Credit Report of companies and individuals.
Company or account details: Such disputes are related to wrong information provided regarding essential company details like name, address, PAN Number, etc., and account details of such credit type.
Ownership: These disputes arise when the company account mentioned is not registered against the name of the company’s owner.
Duplicate Account: When the same account is repeated several times in the Credit Report, a dispute can be raised to rectify it. Fields that cannot be incorrect: Details like company name, legal constitution, state, city, PIN Code, company’s registered address and branch address, contact numbers, company’s registered PAN Number, and name of Director/Promoter/Proprietor/Partner cannot be incorrect.
Personal details: Even minute inaccuracies in personal details like customer’s name, address, etc., lead to disputes and will have to be rectified.
Duplicate account: A dispute may arise when a personal account is repeated more than once. It can be rectified when the consumer raises a dispute request with the CIBIL.
Inaccuracies in the Credit Information Report can be rectified by initiating the Dispute Resolution Process, which follows the following steps.
Timelines for resolution of complaints
a. An acknowledgement is sent within the next business day for emails received on firstname.lastname@example.org and online disputes and grievance raised.
b. Action shall be initiated for any other communication received by CIBIL within 3 business days from the date of receipt.
c. Complaints with respect to to rectification of credit information will be resolved within 15 business days subject to receipt of responses from Banks / Credit Institutions.
d. All other types of complaints will be resolved in 7 business days.
Consumer Education Videos
In order to create consumer awareness for various products, services and grievances. CIBIL has made these Consumer Education Videos available on their website. Consumers can view these videos by visiting the following link on their website www.cibil.com/help-center
When an individual is not satisfied with the resolution for the dispute, CIBIL offers the provision of bringing it to the notice of the Senior Management. The following process is followed when a dispute is escalated:
The grievance can be submitted by filling up the ‘Escalate to Level 1’ Form, mentioning the personal and escalation details, and valid service request number that is generated during any interaction with CIBIL. This escalation is forwarded to the Manager of Consumer Services and a response is usually received within 15 days of the submission of a grievance.
‘Escalate to Level 1’ Form: www.cibil.com/complaints-escalation procedure/escalationMatrix.action?id=1
When a consumer is not satisfied with the Level 1 response, the grievance can be escalated to Level 2 by addressing the concern to Assistant Vice President of Consumer Services through the ‘Escalate to Level 2’ Form, mentioning the personal and escalation details, valid service request number and the online grievance ID Level 1 generated on successful submission of Level 1 escalation. An expected response time is of 10 working days for Level 2 escalation.
‘Escalate to Level 2’ Form: www.cibil.com/complaints-escalation-procedure/escalationMatrix.action?id=2
Grievances unresolved after Level 2 can be further escalated to Level 3 by addressing the concern to Chief Operating Officer. The necessary information required are personal and escalation details, valid service request number and the online grievance ID Level 2 generated on successful submission of Level 2 escalation. An expected response time is 8 working days.
‘Escalate to Level 3’ Form: www.cibil.com/complaints-escalation-procedure/escalationMatrix.action?id=3
Is there any specific timeline under which the grievances will be resolved?
The timelines followed by CIBIL when a grievance is raised are:
What kind of errors should I look out for in my report?
Any discrepancies in details, except the following, should be avoided to prevent disputes in your report:
Does CIBIL grievance desk help me correct my CIBIL score too?
Yes, the CIBIL grievance desk will help you correct your CIBIL score once you follow these steps:
Your correct CIBIL score will then be updated in your report by CIBIL
The resolution of your dispute through the above process takes at least 30 business days. For further assistance, you may contact CIBIL in the following ways;
Address: The Registered office is located at TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013
Contact No.: +91 - 22 - 6638 4600 Or, get in touch online
What are the reasons for wrong CIBIL score?
There can be two reasons for getting a wrong CIBIL score.
1. Error by the bank or lending institution: Inaccurate details inputted by your bank or lending institution while reporting or ascertaining your CIBIL score
2. Failure to make repayments within time on another loan: If you have stood as a guarantor for another loan, but have defaulted on the repayments, it will reflect negatively on the credit report and lead to a poor CIBIL Score.