RBI takes a step towards daily credit reporting

IN A MOVE to modernise the credit ecosystem, the Reserve Bank of India (RBI) on Monday released a draft amendment to the Credit Information Reporting Directions, 2025, proposing a shift from fortnightly to weekly credit reporting.

- MAHESH NAYAK

Effective April 1, 2026, this mandate requires all credit institutions (CIs) and credit information companies (CICs) to submit full monthly files along with incremental weekly updates covering account closures, repayments, and reclassifications.

The circular also introduces CKYC number reporting, uniform data validation protocols, and monthly data quality index (DQI) scores, laying the groundwork for a more accurate and responsive credit infrastructure.This regulatory push is expected to bea step in the right direction toward daily credit reporting, which has gained a significant traction among bankers and policymakers.

At the FIBAC event last month, VVaidyanathan, MD & CEO of IDFC First Bank, urged daily reporting, stating that “there is a need for daily reporting, as it enhances transparency, improves credit assessment, and ultimately benefits the consumer.”