{
  "id": 5557366,
  "title": "RBI imposes monetary penalty on Equifax Credit Information Services Private Limited",
  "url": "https://urgent.news/2026/09/04/rbi-imposes-monetary-penalty-on-equifax-credit-information-services",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T12:54:29.000Z",
  "source": {
    "name": "Reserve Bank of India",
    "slug": "reserve-bank-of-india",
    "url": "https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63523"
  },
  "original_language": "en",
  "account": "On August 31, 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of ₹1,19,400 on Equifax Credit Information Services Private Limited for failing to comply with RBI's directions regarding compensation for delayed credit information updates. This penalty was issued in accordance with Section 25(1)(iii) and Section 23(4) of the Credit Information Companies (Regulation) Act, 2005. The RBI conducted a statutory inspection of the company's financial position as of March 31, 2025, and found non-compliance with the RBI's directives. A notice was sent to the company, requesting a response explaining why the penalty should not be imposed. After reviewing the company's reply and the oral arguments presented during a personal hearing, the RBI concluded that the company had indeed failed to credit compensation amounts to eligible complainants within the required timeframe. The RBI's decision to levy this monetary penalty is based on deficiencies in regulatory compliance and is not meant to evaluate the company's transactions or agreements with customers. The penalty does not preclude any other potential actions that the RBI may take against the company in the future.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Reserve Bank of India",
        "title": "RBI imposes monetary penalty on CRIF High Mark Credit Information Services Private Limited",
        "url": "https://urgent.news/2026/09/04/rbi-imposes-monetary-penalty-on-crif-high-mark-credit-information",
        "published": "2026-09-04T12:10:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}