Question: I raised a dispute with my bank in India last year about an inaccurate entry in my credit report, and it took nearly two months to resolve, but I never received any compensation for the delay even though I've since read that such delays now entitle customers to compensation. Was I wrongly denied compensation?
Answer: Since it's been in effect since April 26, 2024, and your dispute was raised "last year" (2025), you were likely entitled to compensation — RBI's rule gives you ₹100 per day for delays beyond 30 days, so a two-month resolution should have earned you compensation for roughly the extra 30 days of delay. Compensation must be credited automatically within 5 working days of resolution, without you needing to separately claim it, so this wasn't optional on the bank's part. If you weren't paid, you can approach the RBI Ombudsman under the Integrated Ombudsman Scheme for wrongful denial. Check your bank/CIBIL dispute dashboard for the delay breakdown before filing that complaint.

Supporting evidence:
title: rbi.org.in/NotificationUser.aspx
quote: (a) Complainants shall be entitled to a compensation of ₹100 per calendar day in case their complaint is not resolved within a period of thirty (30) calendar days from the date of the initial filing of the complaint by the complainant with a CI/ CIC (k) The compensation amount shall be credited to the bank account of the complainant within five (5) working days of the resolution of the complaint (l) The complainant can approach RBI Ombudsman, under the Reserve Bank - Integrated Ombudsman Scheme, 2021, in case of wrongful denial of compensation by CIs or CICs 3. The compensation framework shall come into effect six (6) months from the date of this circular
context: d updation/rectification of credit information by the credit institutions (CIs) and credit information companies (CICs).
2. Accordingly, in exercise of the powers conferred by sub-section (1) of section 11 of the Credit Information Companies (Regulation) Act, 2005 (CICRA, 2005), the Reserve Bank of India directs CICs and CIs to implement the compensation framework for delayed updation/rectification of credit information by CIs and CICs as detailed below:
(a) Complainants shall be entitled to a compensation of ₹100 per calendar day in case their complaint is not resolved within a period of thirty (30) calendar days from the date of the initial filing of the complaint by the complainant with a CI/ CIC.
Explanation:
Section 21 (3) of CICRA, 2005 provides that a complainant may request a CIC or CI to update the credit information by making an appropriate correction, addition or otherwise, and on such request the CI or CIC shall take steps to update the credit information within thirty (30) days after being requested to do so.
Rule 20 (3) (c) of CIC Rules, 2006 provides that the CI shall forward the corrected particulars of the credit information to the CIC or complainant within a period of twenty-one (21) days from the date when the CI was informed of the inaccuracy in the credit information.
The combined reading of Section 21(3) of CICRA, 2005 and Rule 20 (3) (c) of Credit Information Companies Rules, 2006 provide the CI and the CIC, collectively, an overall limit of thirty (30) days to resolve/ dispose of the complaint. In effect, this would mean that a CI would get twenty-one (21) days and CICs would effectively get the remainder of nine (9) days for complete resolution of the complaint.

(b) A CI shall pay compensation to the complainant if the CI has failed to send updated credit information to the CICs by making an appropriate correction or addition or otherwise within twenty-one (21) calendar days of being informed by the complainant or a CIC.
(c) A CIC shall pay compensation to the complainant if the CIC has failed to resolve the complaint within thirty (30) calendar days of being informed by the complainant or a CI, despite the CI having furnished the updated credit information to the CIC within twenty-one (21) calendar days of being informed by the complainant or the CIC.
(d) The complainant shall be advised by the CI/ CIC of the action taken on the complaint in all cases, including the cases where the complaint has been rejected. In cases of rejecti