Module: | Priority Sector, Consumer Protection & Digital Lending
Q104: Credit Institutions (CIs) shall rectify the rejected data and upload the same with the Credit Information Companies (CICs) within ...... of receipt of such rejection report.
✅ Correct Answer: A
The correct answer is A. CIs are required to rectify any rejected data and upload the corrected data with the CICs within strictly seven days of receiving the rejection report.
This rapid turnaround is mandated by the RBI to ensure that customer credit reports are not adversely affected by prolonged technical errors or stale data, rejecting the looser timelines suggested in the other options.
This rapid turnaround is mandated by the RBI to ensure that customer credit reports are not adversely affected by prolonged technical errors or stale data, rejecting the looser timelines suggested in the other options.