RBI proposes weekly updates on credit data

THE RESERVE BANK of India (RBI) on Thursday said that credit institutions (CIs) or credit information companies (CICs) should update their reports on a weekly basis for the efficient functioning of the credit information reporting system in the country.

- FE BUREAU

“Given the increasing reliance of CIs on credit information reports (CIRs) in credit underwriting processes, it is imperative that the CIRs provided by CICs reflect more recent information. Upon review, it was proposed to amend the extant instructions and transition to weekly incremental subm