Smart things to know about Credit information report

1) The CIR is a statement created by Cibil on the personal credit quality of a borrower, based on his credit history as shared by various lenders.

2) Any discrepancy in the information can be brought to Cibil's notice using its dispute resolution mechanism.

3) The disputes related to credit history are escalated to the lender institution. Cibil is not authorised to make any changes to the information on its own.

4) The borrower should also contact the lender with documentary proof of the correct status and request that the updated information be provided to Cibil.

5) Cibil updates the records with the corrected data only after a confirmation from the lender. The errors related to personal data are rectified by Cibil only on the submission of documentary evidence.

The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre and Arti Bhargava.