Module: | Priority Sector, Consumer Protection & Digital Lending
Q132: When are Credit Information Companies (CICs) required to send alerts via SMS or email to customers?
✅ Correct Answer: B
The correct answer is B. To enhance data security and consumer awareness, CICs are strictly required to send immediate alerts (via SMS or email) to customers whenever their Credit Information Report (CIR) is accessed or pulled by any Specified User (SU), such as a bank or NBFC, provided the customer's contact details are available.
This acts as a real-time anti-fraud mechanism, alerting consumers to unauthorized credit checks.
Options A and C are not mandated by RBI, and Option D is the responsibility of the CI, not the CIC.
This acts as a real-time anti-fraud mechanism, alerting consumers to unauthorized credit checks.
Options A and C are not mandated by RBI, and Option D is the responsibility of the CI, not the CIC.