However, it is learnt that the data submitted to the CICs by member credit institutions is not regular or accurate. There are many instances of junk values, incorrect data and incomplete identifier field information being submitted to the bureaus. It becomes imperative for credit institutions to ensure the quality and timeliness of data submitted to the CICs. 14.
Consumer education and awareness: It is vital for consumers to understand the importance of maintaining financial discipline and paying their loan EMIs and credit card dues regularly. CICs have an important role to play in this regard.