Document title: RBI imposes monetary penalty on Equifax Credit Information Services Private Limited
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1045
Date: September 04, 2026
Regulatory and policy measures
The Reserve Bank of India, 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 for non‑compliance with certain provisions of the RBI directions titled “Framework for compensation to customers for delayed updation / rectification of credit information”. The RBI exercised powers under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005 to levy this penalty.
A statutory inspection of the company was conducted with reference to its financial position as on March 31, 2025. Following supervisory findings of non‑compliance and related correspondence, the RBI issued a notice to the company asking it to show cause why the penalty should not be imposed. After considering the company’s reply and oral submissions made during a personal hearing, the RBI sustained the charge that the company failed to credit the compensation amount to the bank accounts of certain eligible complainants within the prescribed period.
The penalty is imposed without prejudice to any other action that may be initiated by the RBI against the company. The press release is signed by the Chief General Manager, Brij Raj.