RBI Mandates Banks to Share Credit Reports with Customers
Current · Source: Reserve Bank of India · RBI/2008-09/507 · issued 24 Jun 2009 · ~1 min read
Quick answerRBI directs all scheduled commercial banks (excluding RRBs and LABs) and notified AIFIs to provide customers their own credit reports upon request, capped at Rs. 50, under the Credit Information Companies (Regulation) Act, 2005.
The rule, in the simplest words
If a customer asks for their own credit report (a paper that shows if they paid back loans on time), the bank must give it to them.
The bank cannot charge more than Rs. 50 (fifty rupees) for giving this credit report.
This rule comes from a law called the Credit Information Companies (Regulation) Act, 2005, and banks must follow it strictly.
If a bank does not give the credit report, the customer can complain, and the bank could get in trouble with the RBI.
How it plays out — a real example
A payments & clearing officer in Indore receives a request from a customer named Priya for her credit report. He checks the bank's process, takes her request, and provides the report within a week, charging only Rs. 50 as per RBI rules. This makes Priya happy and keeps the bank compliant.
What changed
RBI issued a circular on June 24, 2009, reinforcing the legal obligation under Section 21 of the Credit Information Companies (Regulation) Act, 2005, for banks to furnish credit reports to customers. It also reminded banks of the maximum fee of Rs. 50 prescribed in Regulation 12(3) of the Credit Information Companies Regulations, 2006.
What it means for you
Banks must now strictly comply with customer requests for their own credit reports, addressing complaints under the RTI Act. Non-compliance could invite regulatory action, and the Rs. 50 fee cap ensures affordability for customers.
What you must do
Ensure your bank has a process to accept and process customer requests for credit reports within the legal framework.
Cap the fee for providing credit reports at Rs. 50 as per RBI regulations.
Train staff on the provisions of the Credit Information Companies (Regulation) Act, 2005, to avoid compliance gaps.
Acknowledge receipt of this circular to confirm understanding and adherence.
Who it affects
All Scheduled Commercial Banks (excluding RRBs and LABs), Notified All-India Financial Institutions
❓ Common questions
What is the maximum fee a bank can charge for providing a credit report?
The maximum fee is Rs. 50, as specified in Regulation 12(3) of the Credit Information Companies Regulations, 2006.
Which law mandates banks to provide credit reports to customers?
Section 21 of the Credit Information Companies (Regulation) Act, 2005, requires credit institutions to furnish a copy of credit information upon request.
📜 Read the original circular — full text as issued by RBI
RBI/2008-09/507
DBOD.No.DL.BC. 138/20.16.042/2008-09
June 24, 2009
i) All Scheduled Commercial Banks (excluding RRBs and LABs) and
ii) Notified All-India Financial Institutions
Dear Sir
Access to own credit report
Please refer to our circular DBOD No.DL.11590/20.16.034/2007-08 dated February 27, 2008 advising banks/FIs in the context of Credit Information Companies (Regulation) Act, 2005 to urgently initiate steps to build up database and be in readiness for effective exchange of credit information without any loss of time.
2. Of late, Reserve Bank has been receiving a number of complaints, including under the Right to Information Act, 2005, that customers are unable to get their own credit report from banks.
3. In this connection we invite your attention to the provisions of sub section (1) of Section 21 of the Credit Information Companies (Regulation) Act, 2005, which provides “any person, who applies for grant or sanction of credit facility, from any credit institution, may request such institution to furnish him a copy of the credit information obtained by such institution from the credit information company”. Further, sub-section (2) of the said Section also specifies that every credit institution shall on receipt of request, as indicated in sub-section (1), shall furnish to such person a copy of the credit information subject to payment of charges specified by the Reserve Bank under the Regulations.
4. You might be aware that Reserve Bank, in Credit Information Companies Regulations,2006, framed under the Act, has already prescribed in Regulation 12(3) a maximum fees of Rs.50/= (Rupees fifty only) for the purpose.
5. Banks and Financial Institutions are, therefore, advised to ensure strict compliance with the provisions of the Credit Information Companies (Regulation) Act, 2005 as well as the rules and regulations framed thereunder.
Please acknowledge receipt.
Yours faithfully
(Vinay Baijal)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/507 · issued 24 Jun 2009. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All Scheduled Commercial Banks (excluding RRBs and LABs), Notified All-India Financial Institutions), your first concrete step on “RBI Mandates Banks to Share Credit Reports with Customers” is: “Ensure your bank has a process to accept and process customer requests for credit reports within the legal framework.” (RBI issued this 24 Jun 2009).
Circular: RBI/2008-09/507 -- RBI Mandates Banks to Share Credit Reports with Customers
Issued: 24 Jun 2009
Action required: Ensure your bank has a process to accept and process customer requests for credit reports within the legal framework.
Action required: Cap the fee for providing credit reports at Rs. 50 as per RBI regulations.
Action required: Train staff on the provisions of the Credit Information Companies (Regulation) Act, 2005, to avoid compliance gaps.
Action required: Acknowledge receipt of this circular to confirm understanding and adherence.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5050&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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