Regulatory Alerts2026-09-04
Added
RBI imposes monetary penalty on CRIF High Mark Credit Information Services Private Limited
The Reserve Bank of India imposes a monetary penalty of ₹6,89,600 on CRIF High Mark Credit Information Services Private Limited for failing to credit compensation amounts to eligible complainants' bank accounts within the prescribed period. This penalty is levied under sections 25(1)(iii) and 23(4) of the Credit Information Companies (Regulation) Act, 2005, following a statutory inspection of the company's financial position as of March 31, 2025. The action is based on supervisory findings of non-compliance with RBI directions regarding the framework for compensation for delayed updation or rectification of credit information.
Search the Website
( 325 kb ) Date : Sep 04, 2026 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 of credit information’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of 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 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, additional submissions made by it 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 the 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: 2026-2027/1043
2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 Archives
Top
Back to previous page
More like this from RBI
RBI published 73 documents in the last 30 days. We email you each new one the day it's published.