One of the main reasons for this move can be to prevent fraudsters from the time delay between a loan that becomes poor and the report to a CIC | can use photoredit:
Lenders can have to submit weekly credit information against the current biweekly basis to credit information companies (CICS), given their increasing dependence on credit information reports in credit reduction processes.
One of the main reasons for this step can be to prevent fraudsters from the time delay between a loan that becomes poor and the report is used to a CIC. During the interim period, unscrupulous borrowers can approach other credit institutions (CIs) for loans, because their status of asset classification has not been updated with the CIC.
Experts say along the line, the RBI can even ask money lenders to switch to daily reporting of credit information.
“It is proposed to switch to weekly submission of credit information by Credit Institutions (CIS) to CICS”, according to the Draft Reserve Bank of India (Credit Information Reporting) (1st Amendment) directions, 2025
The draft changes also require measures to facilitate faster data entry and fouprectification by CIS. Furthermore, in order to facilitate the aggregation of credit information by CICS, it is proposed to record Central Know Your Customer (CKYC) number in a separate field in the consumer segment reporting format.
Bhavesh Jain, MD & CEO, Transunion Cibil, said: “The concept proposal of the RBI to go from biweekly to weekly credit report is a progressive step that will strengthen India’s credit information ecosystem of India. More freedoms will immediately be updated, causing credit changes, causing credit changes, to be krediet repairing, causing credit changes,, causing credit changes,, causing credit changes,, causing credit,, causing credit changes,, causing credit changes,, causing credit changes,, causing credit changes, causing credit changes,, causing credit changes,, causing credit changes, to redeem reports, so that credit changes. Immediately updated, as a result of which credit reports are updated immediately, credit reports are updated immediately.
Jain noted that the instructions also create an opportunity for the industry to invest in advanced technology and stronger processes, making the Ecosystem Agiler and the future ready.
“The result will be an improved transparency, more responsive systems and stronger trust between borrowers and lenders … We are committed to collaborating with all stakeholders to build a more resilient and consumer -oriented creditecosystem for the country,” he said.
According to the draft instructions, for weekly entries during the month, credit information on 7th, 14th, 21st and 28th (except for the month) registers day of the month, CIS should only provide ‘incremental data’ to CICs.
Lenders must submit such credit information within two calendar days after the aforementioned dates.
Incremental data for this purpose will contain details with regard to accounts that have been opened since the last report cycle; Accounts in which the relationship between the borrower and the CI has ended since the last report cycle.
In addition, accounts where a change is because of any action initiated by the borrower, including Inter-Alia, reimbursement authorities, change in demographic details, connected party, warranty ties, ownership of account; and accounts where there is a change in the classification of the assets (eg special mention account [SMA] -0, SMA-1, SMA-2, Sub-Standard) will also be part of incremental data.
Published on September 30, 2025
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