Module: | Priority Sector, Consumer Protection & Digital Lending
Q127: If a correction is carried out in a Credit Information Report (CIR), to whom must the Credit Information Company (CIC) provide a free copy of the corrected report?
✅ Correct Answer: C
The correct answer is C. In case any correction is carried out in the Credit Information Report (CIR) due to previous errors, the CICs are mandated by regulation to provide a free copy of the freshly corrected report to anyone (including other lenders) to whom the flawed report had been issued during the previous six months.
This specifically mitigates the damage caused by the incorrect data by ensuring recent lenders have the updated profile.
This specifically mitigates the damage caused by the incorrect data by ensuring recent lenders have the updated profile.