New Delhi, May 17 -- A credit score plays a major role in shaping a person's financial journey. Whether applying for a home loan, personal loan, or credit card, lenders heavily rely on this three-digit number, most commonly monitored by CIBIL.

Financial institutions use the credit score to evaluate a borrower's financial credibility and repayment behaviour. The score is generated using information shared by banks and NBFCs, including repayment history, active credit accounts, defaults, and credit utilisation. Ideally, the process is meant to be automated, transparent, and unbiased.

However, when the underlying data is incorrect, the consequences can be severe. Errors in credit reports are increasingly becoming a major issue for consumer...