Module: | Priority Sector, Consumer Protection & Digital Lending
Q135: What action must a Credit Institution (CI) take if it rejects a customer's request for data correction?
✅ Correct Answer: A
The correct answer is A. If a CI rejects a customer's formal request for data correction, it is legally bound to transparently inform the customer of the specific reasons for the rejection.
This allows the customer to understand the deficiencies in their claim and potentially gather better evidence.
Deleting data arbitrarily or charging fees for manual reviews in this context violates customer service protocols.
This allows the customer to understand the deficiencies in their claim and potentially gather better evidence.
Deleting data arbitrarily or charging fees for manual reviews in this context violates customer service protocols.