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Kagaznama

Request to Update the Credit Bureau After Closure

At a glance

Price
Free
Stamp duty
No stamp duty: not an instrument under s.2(14), Indian Stamp Act, 1899.
Registration
Not registrable under s.17, Registration Act, 1908.
Witnesses
Not required; the sender signs it.

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Also called

  • CIBIL closure update request
  • credit report loan correction

When you need it

For when a closed loan still shows open, or with a wrong balance/status/date/duplicate, on your credit report — tied to the lender's closure evidence and the bureau report. S.21(3), CICRA 2005 gives a 30-day resolution period; RBI's 26 October 2023 framework pays Rs 100/day beyond that.

Read more

Doesn't delete a Punjab authority or Chandigarh Estate Office charge — that stays separate. States the current entry and replacement wanted.

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

No stamp duty: not an instrument under s.2(14), Indian Stamp Act, 1899.

Registration

Not registrable under s.17, Registration Act, 1908.

Notarisation

Not required unless the receiving office wants a sworn affidavit.

Witnesses

Not required; the sender signs it.

Request Stamp Paper

Sample preview — placeholder answers, not your data

REQUEST TO UPDATE THE CREDIT BUREAU AFTER CLOSURE

Request date: 2 April 2026

To ABC Bank Ltd, Sector 17, Chandigarh. Borrower: Aarav Sharma, Sector 21, Panchkula. Loan: Home loan ending 1188. Property: Apartment 804, ABC Heights, SAS Nagar, Punjab; Apartment 804, Tower B; deed no. 2345.. Regime: Punjab freehold/revenue-record property.

Loan closed: 1 April 2026. Closure evidence: X. Credit information company: X. Error: Closed loan still reported as open. Current entry: Account active; balance 6200000.. Correction requested: Closed on 05 August 2026; balance zero..

LEGAL BASIS

Punjab: Section 21(3) of the Credit Information Companies (Regulation) Act, 2005 provides the correction mechanism and 30-day overall period; RBI's 26 October 2023 direction under section 11(1) provides Rs 100 per day for qualifying delay beyond 30 days. The lender or CIC handles the correction; no Punjab property office decides the bureau entry.

Chandigarh: The same CICRA and RBI framework applies. The Chandigarh Estate Office property file under the 1952 Act and Chandigarh Estate Rules is separate; correcting the bureau does not alter a sector property's local charge record. If the lender does not reply within 30 days, or its reply does not resolve the complaint, a complaint against a bank or a non-banking finance company covered by the Reserve Bank – Integrated Ombudsman Scheme, 2026 can be taken to the RBI Ombudsman within 90 days of that deadline or of the lender's last reply, whichever is later. Housing finance companies are outside that scheme: a complaint against one goes, after the company's own grievance redressal officer, to the National Housing Bank.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

The purpose of collecting personal data in this credit-bureau request is to identify the closed loan and correct the inaccurate credit-information entry that remains after closure.

The record will be held by Kagaznama and may be shared with Aarav Sharma, ABC Bank Ltd at {lender_address} and authorities or professionals directly involved in request to update the credit bureau after closure.

If the matter does not proceed, the personal data will be retained for 90 days and then erased. If the matter proceeds, the record will be retained for the matter plus 12 months, except where a statutory or regulatory record-retention period requires a longer named period.

A person named in this document may request correction or erasure where the purpose has ended, withdraw consent for future consent-based processing, or raise a grievance by writing to privacy@example.com. The record-holder should acknowledge and reply within 30 days.

Data minimisation: this document does not collect a full Aadhaar number, an Aadhaar-card copy, a password or bank credentials.

Questions about this document

Does the Request to Update the Credit Bureau After Closure need stamp paper or stamp duty in Punjab and Chandigarh?

No stamp duty: not an instrument under s.2(14), Indian Stamp Act, 1899.

See the full position on stamp duty, registration and witnesses
Does the Request to Update the Credit Bureau After Closure need registration in Punjab and Chandigarh?

Not registrable under s.17, Registration Act, 1908.

See the full position on stamp duty, registration and witnesses
What does the Request to Update the Credit Bureau After Closure cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Request to Update the Credit Bureau After Closure need witnesses?

Not required; the sender signs it.

See the full position on stamp duty, registration and witnesses

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