Document title: RBI imposes monetary penalty on CRIF High Mark Credit Information Services Private Limited
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1043
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 ₹6,89,600 (Rupees Six lakh eighty‑nine thousand six hundred only) on CRIF High Mark Credit Information Services Private Limited for non‑compliance with certain provisions of the RBI directions on the "Framework for compensation to customers for delayed updation/rectification of credit information". The penalty was imposed under the powers conferred by section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005.
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, RBI issued a notice to the company asking it to show cause why the penalty should not be imposed. After considering the company’s written reply, additional submissions, and oral submissions made during a personal hearing, 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 RBI clarified that 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. The monetary 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.