Supreme Court Intervenes in Credit Score Mix-Up Saga

The Supreme Court addressed a credit score misissue involving Rajendra Singh Panwar, whose score was negative due to errors linked to other individuals with the same PAN. Despite no defaults, his score impacted his financial options. Major banks confirmed no defaults, leading to corrections by CIBIL.

In a recent ruling, the Supreme Court stepped in to correct an unusual credit score discrepancy for Rajendra Singh Panwar, an Uttarakhand resident. Panwar experienced a negative credit score for years, despite having no outstanding loans or defaults.

The issue arose because two other individuals with the same name had been erroneously issued his PAN number, leading to their defaults reflecting on his CIBIL records. Even after acquiring a new PAN, the negative score remained linked to his profile.

Upon the Supreme Court's inquiry, major banks including Punjab National Bank and State Bank of India confirmed that Panwar had no loan defaults. CIBIL has now corrected Panwar's records following these clarifications.

(With inputs from agencies.)