The Supreme Court on Monday issued notice in a plea alleging right to privacy violations by four foreign credit information companies operating in India (Surya Prakash v. Union of India and Others).
The Reserve Bank of India on Monday said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms.
RBI Slaps Penalties on Standard Chartered Bank-India, Other Entities news18.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news18.com Daily Mail and Mail on Sunday newspapers.
The Reserve Bank of India (RBI) has imposed penalties on several entities for failing to comply with regulatory norms. Standard Chartered Bank-India was fined Rs 30 lakh for contravening certain provisions of the RBI s KYC Directions. Equifax Credit Information Services, Experian Credit Information Company of India, TransUnion CIBIL, and CRIF High Mark Credit Information Services were also fined for non-compliance with Credit Information Companies Act regulations. Other banks and co-operative lenders were also penalised for similar reasons. RBI noted that the penalties were not intended to judge the validity of any transaction or agreement involving the entities.