CIBIL - Playing with customers data and the law
My friend mentioned he was facing financial problems as he had bought some property, but the banks were refusing credit citing some problem in the CIBIL report. This made me curious and I ordered my CIBIL report from their website and it arrived promptly. There was some interesting data in the report - It mentioned my old employers and email Id together with the latest ones. I had an amex card and for one month it showed a delayed payment by 30 days. CIBIL says one can raise a dispute on it's site, and I thought it to be some easy issues to fix. I could not have been more wrong. The way CIBIL resolves dispute is by saying -- We had forwarded complaint to the information provider, and they have confirmed it is fine, so go and contact the information provider. On further pressing CIBIL they responded that they work according to ---- The Credit Information Companies (Regulation) Act, 2005. This was good informat...