RBI Revolutionizes Credit Reporting with Weekly Updates
The Reserve Bank of India has taken a significant step toward transforming how credit information is managed in the country. On 29th September 2025, the central bank released draft directions that will fundamentally change the frequency of credit score updates from fortnightly to weekly, marking a major shift in India's financial landscape.
New Weekly Update Schedule
According to the Reserve Bank of India (Credit Information Reporting) (1st Amendment) Directions, 2025 – Draft, Credit Information Companies (CICs) like CRIF High Mark will now be required to update credit information on a weekly basis. The specific update dates will be the 7th, 14th, 21st, 28th, and the last day of each month.
The new system allows for even more frequent updates if banks and CICs mutually agree. This represents a substantial improvement over the current fortnightly update system, providing more current financial data to both lenders and borrowers.
How the New System Will Work
The implementation process involves a structured approach to data submission. Banks must submit complete credit information files by the 3rd day of the following month, covering all active accounts and those where borrower relationships have ended.
For weekly updates, banks will provide incremental data that includes:
- Newly opened accounts since the last reporting cycle
- Accounts where borrower relationships have terminated
- Accounts with changes initiated by borrowers (repayments, demographic updates, guarantor changes)
- Accounts with asset classification changes
Banks have a strict 2-day window to submit this incremental data to CICs. Failure to meet these deadlines will be reported to the RBI's Department of Supervision through the DAKSH portal on half-yearly intervals.
Implementation Timeline and Benefits
The new regulations are scheduled to take effect from 1st April 2026, giving financial institutions adequate time to prepare for the transition.
For borrowers, the accelerated update cycle means significant advantages. Improved credit scores will reflect much faster, potentially helping applicants secure credit cards and loans more quickly. Those with enhanced credit profiles can benefit from better interest rates and loan terms sooner than under the current system.
Banks and NBFCs will gain access to more current data, enabling better risk assessment and more accurate loan pricing. This improved efficiency in credit underwriting will benefit both lenders and qualified borrowers.
A Win-Win for India's Financial Ecosystem
This move by the RBI represents a progressive step toward modernizing India's credit information system. The weekly updates will create a more dynamic and responsive credit environment, potentially paving the way for daily or real-time updates in the future.
Both individual borrowers and financial institutions stand to gain from this development. Borrowers will have better access to credit products with improved terms, while banks will benefit from enhanced risk management capabilities. This initiative demonstrates the RBI's commitment to creating a more efficient and borrower-friendly financial ecosystem in India.
