Submission of inaccurate and incomplete data to CICs is a common occurrence which, in turn, leads to inaccuracies in the credit reports and resultant consumer disputes. Credit Institutions should put in place mechanisms to improve the quality of data captured in their source systems which will not only improve their own operations but, in turn, also translate into improved data submission.
The issue of furnishing of timely and accurate credit information on their borrowers by the credit institutions has been engaging the attention of Reserve Bank of India.