Economy · India
RBI fines TransUnion CIBIL and four other credit firms
The Reserve Bank of India (RBI) issued a notification imposing monetary penalties on five credit information companies for breaching regulatory requirements. TransUnion CIBIL was fined Rs 26.82 lakh. CRIF High Mark Credit Information Services received a fine of Rs 6.89 lakh. The RBI’s notice also listed penalties for three other firms, though the amounts were not disclosed in the reports. The RBI said the fines were imposed because the companies failed to comply with the central bank’s rules governing credit data handling. The penalties were announced through the RBI’s legal and supervisory arm, ETLegalWorld, and reported by both English and Hindi business news outlets.
How outlets across the spectrum covered it
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- Centre (2): Dainik Tribune, The Economic Times