CIBIL Score: A good CIBIL score can help you get a cheap loan, but if your CIBIL score is bad, you will be denied a loan. Now RBI has implemented 6 new rules regarding CIBIL score (CIBIL Score news). Bank customers will directly benefit from these rules. Let us know about these rules in detail in the news.
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 bank (bank news) customers. Actually, 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) gets spoiled due to the mistake of the bank customer, many times it gets spoiled due to the mistake on the part of the bank and credit institutions as well. Such complaints were also received by RBI (RBI rules for cibil score). Due to this, now 6 new rules have been made regarding CIBIL score, which are in the interest of the customers.
1. Now CIBIL score will be updated quickly-
According to the new rules, now the CIBIL score (cibil score new rules) can be updated twice a month. It will be updated every 15 days. This will benefit the banks and bank customers a lot. With this, the banks (bank update news) will be able to take the right decision of giving loan to someone on time and the customers will be able to take the decision of taking loan in a proper manner on time. Now it has been ensured for banks, NBFCs (NBFC cibil score rules) and credit institutions to follow these rules.
2. You will get information about CIBIL score being checked-
Now whenever the bank checks the CIBIL score of a customer (how to check cibil score), it will definitely inform the customer that his CIBIL score has been checked. RBI (reserve bank of india) has warned all banks and NBFCs about this. The customer must be informed 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 definitely inform the customer why any of his requests was rejected. Giving the reason for this, the bank will make a list of such cases and send it to all credit institutions (rules for Credit Institution). 4. Free full credit report will be available in a year-
According to RBI rules (RBI new CIBIL Score rules), now credit companies will definitely give free full credit score report 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 a 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 a nodal officer, this nodal officer will monitor the credit score problem.
6. 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, the one at whose level there is laxity will have to pay a fine of Rs 100 per day (fine on not updating cibil).
