I have recently applied for a home loan and during that time I noticed that there are discrepancies in my cibil score. I have approached transunion to correct the details. They said they have forwarded the details to the bank that reported wrong information. When I checked with the bank they said they have rectified the information.

But transunion CIBIL is not very transparent and it keeps saying that they will look into the issue and they are just delaying the issue. It's been more than 2 months and 50+ emails back and forth. The score given by transunion is very low compared to the score given by Experian. And when I ask about it they say they have a different algorithm to calculate the score. And from what I seen for others as well, CIBIL shows a lot lower score compared to Experian. And CIBIL asks people to pay for subscription to get updates to the score more than once where as others give it for free every month.

They are not transparent with their algorithm, they don't resolve issues in the stipulated time, they keep delaying the issue by giving response saying they are still looking into it.

I have raised a complaint with CMS RBI, banking ombudsman, National consumer helpline, cpgrams etc all the realted portals that are connected to the personal and financial information protection of the individuals. To my surprise no one cares about this.

And recently I saw few news articles where people got frustrated with issues like this. Some have destroyed bank property and some have committed suicides. And all this is because all the banking, nbfcs show transunion CIBIL score as the reason to increase rate of interest or to sanction loans to the common people.

All the banks take loan from RBI, which is actually the tax money of people and in turn they are harassing people in the name of transunion CIBIL score which is very erratic and from a company that doesn't have a grievance officer or grievance system that is accountable.

This has to change and people should be empowered whether to share thier data with such companies or not. And banking institutions should start considering scores from multiple credit institutions rather than just transunion CIBIL.

I bet out of 900 only a few thousand people will have more than 800 as the score. And transunion doesn't reveal it's algorithm to calculate the score. There might be chances that they are tampering the data and showing higher scores to only those who subscribe to thier paid service. It's ironic to charge people for the same data that they have collected from people. The system is flawed and this has to change for the better future of the 90% or majority of Indians who are living in unorganised sector. 

The innocent people will be looted by these financial sharks and yet RBI and other institutions are not even bothered to change regulations to support the majority of people.

I wish our FM, Nirmala Sitharaman ji, can take a look at these problems and provide a better solve for people. I hope she atleast listens to these queries from tax paying citizens.

Attaching the very recent conversations that i had with transunion and the recent complaints mail that I sent to various govt organisations