Monetary Penalty on Equifax Credit Information Services Private Limited · 2026-2027/1045
RBI press-release 2026-2027/1045 · 04 Sept 2026
Official title
RBI imposes monetary penalty on Equifax Credit Information Services Private Limited
RBI press-release 2026-2027/1045 · 04 Sept 2026
Official title
RBI imposes monetary penalty on Equifax Credit Information Services Private Limited
Summary
Check the official recordThe Reserve Bank of India imposes a monetary penalty of ₹1,19,400 on Equifax Credit Information Services Private Limited. The company failed to credit compensation amounts to the bank accounts of eligible complainants within the prescribed period. This action follows a statutory inspection of the company financial position as of March 31, 2025. The penalty relates to non-compliance with the Framework for compensation to customers for delayed updation or rectification of credit information. The Reserve Bank of India issued this order under the Credit Information Companies (Regulation) Act, 2005.
What you must do
Key dates
Who is affected
If you do not comply
September 04, 2026
RBI imposes monetary penalty on Equifax Credit Information Services Private Limited
The Reserve Bank of India (RBI) has, by an order dated August 31, 2026, imposed a monetary penalty of ₹1,19,400 (Rupees One Lakh Nineteen Thousand Four Hundred only) on Equifax Credit Information Services Private Limited (the company) for non-compliance with certain provisions of directions issued by RBI on ‘Framework for compensation to customers for delayed updation / rectification of credit information’. This penalty has been imposed in exercise of powers conferred on RBI under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005.
The statutory inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2025. Based on the supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found that the following charge against the company was sustained, warranting imposition of monetary penalty:
The company failed to credit compensation amount to the bank accounts of certain eligible complainants, within the prescribed period.
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/1045
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