Module: | Priority Sector, Consumer Protection & Digital Lending
Q105: How frequently are Credit Information Companies (CICs) required to undertake periodic exercises or checks to identify identifier inconsistencies in their databases?
✅ Correct Answer: B
The correct answer is B. CICs must undertake periodic exercises or checks, at least once in a quarter, to identify identifier inconsistencies within their database and then share these findings with the respective CIs.
This ensures structural integrity of borrower identities across different institutions, preventing merged files or fragmented profiles.
This ensures structural integrity of borrower identities across different institutions, preventing merged files or fragmented profiles.