The Reserve Bank of India (RBI) has directed banks and financial institutions to notify customers about any submission of default or payment delays information to credit bureaus. Additionally, the RBI has instructed credit bureaus to alert customers when third parties access their credit reports. As part of the new guidelines, credit bureaus are required to offer individuals easy and free access to their full credit reports, including credit scores, once a year. The RBI emphasizes transparent communication, urging banks to inform customers about the reasons for rejecting data corrections in credit reports. Furthermore, banks are advised to designate a dedicated contact point for addressing customer grievances with credit bureaus.