Under Section 17 of the Credit Information Companies (Regulation) Act, 2005, a borrower, X, requests correction of inaccurate credit information maintained by a Credit Information Company (CI

Explanation: Section 17(3) of the CICRA, 2005 provides: "If a credit information company or specified user or credit institution in possession or control of the credit information, has not updated the information maintained by it, a borrower or client may request all or any of them to update the information...and on such request the credit information company or the specified user or the credit institution, as the case may be, shall take appropriate steps to update the credit information within thirty days after being requested to do so: Provided that the credit information company and the specified user shall make the correction, deletion or addition in the credit information only after such correction, deletion or addition has been certified as correct by the concerned credit institution." This provision creates a critical restriction: CICs cannot unilaterally correct data; certification by the lending bank is mandatory. However, the RBI Master Directions on CICs (2024) establish a compensation mechanism: "Complainants shall be entitled to compensation of ₹100 per calendar day in case their complaint is not resolved within a period of thirty (30) calendar days from the date of initial filing." Thus, while the CIC cannot correct without bank certification, the borrower receives compensation for delay. Option (B) correctly applies both provisions