How can I monitor my credit reports to detect potential fraudulent charges?

In India, the Credit Information Companies (CICs) provide credit reports to individuals on request. You can request a credit report from any of the four CICs TransUnion CIBIL, Equifax, Experian, and CRIF High Mark. By law, you are entitled to one free credit report per calendar year from each CIC.

To monitor your credit reports for potential fraudulent charges, you should review your credit report regularly and look for any accounts or inquiries that you did not initiate. You should also check that the personal information on the report is accurate and uptodate. Any errors or discrepancies should be reported to the respective CIC for correction.

Some CICs also provide credit monitoring services that can alert you to any significant changes in your credit report, such as new accounts being opened or inquiries being made. These services may come at a cost, but they can provide an added layer of protection against identity theft and fraud.