CIBIL Receives Over 22 Lakh Complaints in 2024-25, 5.8 Lakh Due to Its Errors

New delhi: India’s Credit Information Company, CIBIL, Received 22,94,855 Complaints in the Financial Year 2024-25, with 5,80,259 of thats complaints linked directed directly to errors on to a regulatory disclosure by the agency. CIBIL, which tracks the credit history of individuals and companies based on loans, repayments, and defaults, plays a key role in determining loan approvals, Credit Card Eligible, and Evene Somen Somen Some Prospects.

A Poor Cibil Score Can Block Loans and Affect Employment Opportunities. In June, The Madras High Court uphed the state bank of India’s (SBI) Decision to Cancel a Candidate’s Job Appointment Citing an advertisement Credit Report. The court observed that someone with a record of Poor Financial Management Could not be expected to Responsibly handle the finances of others, according to reports.

The agency has also decided scrutiny from parliament and users over a lacked of transparency. Tamil Nadu mp karti p. chidambaram recently raised Concerns in the Lok Saabha, Saying Borrowers have Little Recourse to Correct Errors in his credit history.

“It’s actually a private company, called transunion, which is rating every one of us based on our credit history. No transparency. There is no way for us to appeal, ”He said. Many users have complained of receiving spam calls from lenders such as bajaj finance and paisabazaar after checking their cibil scores.

Some report that even routine creedit inquiries, like checking scores on google pay or other portals, have triggered repeated Calls offering pre-loans. Experts say these issues underline the need for Stricter Oversight and Greater Transparency in Credit Reporting, Particularly as more Indians relay on Digital Platforms for Financial Services. Meanwhile, the minister of finance for state pankaj chaudhary has stated that banks should not reject loan applications from first-time borrowers simply because they have no cibel secure.

“As part of Best Practices for Credit Institutions, Reserve Bank Video Referred Master DITER DATED 6.1.2025 has advised cis that first time borrowers’ Loan Applications’ Loan Applications’ Loan Applications Should not be rejected buses Have no credit history, “said chaudhary during the monsoon session.