RBI imposes monetary penalty on Experian Credit Information Company of India Private Limited

Case Brief

By an order dated March 03, 2025, RBI imposed a monetary penalty of ₹2,00,000 on Experian Credit Information Company of India Private Limited. The action followed a statutory inspection and supervisory findings that the company did not inform credit institutions of discrepancies in credit information by the seventh day after receiving requests, and also neither updated/corrected the credit information nor informed borrowers of its inability to do so within the stipulated 30-day period. RBI stated that the penalty was imposed under Section 25(1)(iii) read with Section 23(4) of the CIC (Regulation) Act, 2005, after considering the company’s reply and oral submissions.