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Informist, Thursday, Dec. 4, 2025

 

--RBI issues amended norms for credit information cos, effective Jul 1 

 

MUMBAI – The Reserve Bank of India has mandated more frequent reporting of credit information by credit institutions to credit information companies with an aim to improve the quality credit underwriting and monitoring.

 

The central bank Thursday released amended directions on credit information reporting, two months after putting out the draft directions. Effective Jul. 1, a credit institution will have to submit credit information as on 9th, 16th, 23rd and the last day of the month to credit information companies. Earlier, this was done fortnightly. 

 

"A CI (credit institution) shall submit the full file containing credit information records as on the last day of the month to the CICs (credit information companies), by 5th day of the next month," the RBI said in a direction. "Full file for this purpose shall include all active accounts in the books of the CI and the accounts wherein relationship between the borrower and the CI has ended since the last reporting reference date."

 

Credit information companies will be required to report a list of credit institutions which fail to adhere to the data submission timelines to RBI's Department of Supervision on Mar. 31 or Sept. 30 each year, the central bank said. 

 

"Given the increasing reliance of credit institutions on credit information reports in credit underwriting processes, it is imperative that the credit information reports provided by credit information companies reflect more recent information," the RBI said.  End

 

Reported by Shubham Rana

Edited by Akul Nishant Akhoury

 

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