Some customers with IDFC First Bank, SBI Cards and Payment Services Ltd., and non-banking financial institutions (NBFCs) like Piramal Finance and Liqui Loans have taken to Twitter to complain about erroneous entries in their CIBIL reports.
CIBIL, or Credit Information Bureau (India) Limited, reports the record of the financial behavior of individuals and companies with details like the repayment of loans and credit cards dues.
The report produces a three-digit score called CIBIL score. Banks check a customer’s CIBIL score maintained by TransUnion CIBIL, an American credit bureau, licensed by the Reserve Bank of India (RBI).
Queries sent to IDFC First Bank, SBI Card, Piramal Finance and Liqui Loans via email were unanswered as of the time of publishing this story.