RBI Ombudsman received more complaints against CIBIL in FY23: Report

The RBI reported a total of 1,039 complaints against the Credit Information Companies (CICs).

The Reserve Bank of India (RBI) received 796 complaints against Credit Information Bureau (India) Limited (CIBIL) between April 1, 2022, and March 31, 2023, through the offices of RBI Ombudsman (ORBIOs), according to the latest annual report. This is the highest complaints against a credit bureau, as per the report.

According to the RBI annual report, which was published on March 11, the RBI reported a total of 1,039 complaints against the Credit Information Companies (CICs).

Most of the complaints were about loans and advances and credit cards against CICs. For instance, CIBIL had highest complaints of 581 for loans and advances and 42 complaints for disputes on credit cards (refer to graphic).

How to file a complaint against a credit bureau?

Until August 2022, people with complaints against these CICs had no recourse if these companies failed to respond to their grievances on discrepancies in their credit reports. This had resulted in financial setbacks for several people. For instance, loan applications being rejected or poor credit score making them ineligible for best interest rates from financial institutions.

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You can file a complaint with the ombudsman in multiple ways. To file the complaint online, you can log on to the website https://cms.rbi.org.in. You can also register your complaint by sending an email to CRPC@rbi.org.in or by calling the contact centre on toll-free number 14448. You can also send your complaint physically by filling the form and sending it to the ‘Centralised Receipt and Processing Centre’ set up by RBI in Chandigarh.