India, Sept. 7 -- The Reserve Bank of India (RBI) has imposed a Rs 1.19 lakh monetary penalty on Equifax Credit Information Services Pvt Ltd for non-compliance with regulatory directions concerning the framework for compensation to customers for delayed updation or rectification of credit information.
The penalty was imposed through an order dated August 31, 2026, following an RBI inspection of the company's financial position as of March 31, 2025.
RBI found that the company failed to credit compensation to the bank accounts of certain eligible complainants within the prescribed timeframe, leading to the regulatory action.
The central bank clarified that the penalty is based on regulatory compliance deficiencies and does not question the...