The Reserve Bank of India has updated its guidelines for credit information reporting. According to the new directive, effective January 1, 2025, credit institutions (CIs) must submit credit information to credit information companies (CICs) on a fortnightly basis—on the 15th and the last day of each month. This submission should be completed within seven days of the reporting date. Additionally, CICs must process and integrate this information into their systems within five days of receipt.

CICs are required to report any CIs not adhering to these reporting timelines to the Reserve Bank of India twice a year, on March 31 and September 30. These changes aim to ensure more current credit information for better lending decisions. Non-compliance with these regulations could lead to penalties under the Credit Information Companies (Regulation) Act, 2005.