TNI Bureau: Concerns over CIBIL’s opaque credit rating system have intensified, with consumers and lawmakers demanding greater transparency. Congress MP Karti Chidambaram during the Winter session of the Parliament in December 2024 raised the issue in Parliament, questioning how a private entity controls citizens’ financial access without accountability.

Borrowers face loan rejections and high interest rates due to outdated or erroneous scores, often with no clear recourse. The RBI’s new directive for fortnightly credit updates aims to improve accuracy, but critics argue systemic reforms are overdue. With livelihoods at stake, calls for a fair, transparent credit rating system are growing louder.