RBI imposes monetary penalty on CRIF High Mark Credit Information Services Private Limited
The Reserve Bank of India (RBI) has, by an order dated August 31, 2026, imposed a monetary penalty of ₹6,89,600 (Rupees Six lakh eighty nine thousand six hundred only) on CRIF High Mark Credit Information Services Private Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Framework for compensation to customers for delayed updation/ rectification…
By an order dated August 31, 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of ₹6,89,600 on CRIF High Mark Credit Information Services Private Limited for non-compliance with certain provisions of RBI's directions on customer compensation for delayed credit information updates. This penalty is based on deficiencies in regulatory compliance, and is not intended to judge the validity of any transactions or agreements between the company and its customers.
The RBI conducted a statutory inspection of the company's financial position as of March 31, 2025, and issued a notice advising the company to explain why it should not be penalized for its failure to credit compensation amounts to eligible complainants within the prescribed period. After considering the company's replies, additional submissions, and oral arguments during a personal hearing, the RBI found that the charge against the company was sustained, requiring the imposition of the monetary penalty.
Written by urgent.news from Reserve Bank of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
