RBI's New 15-Day Credit Reporting Rule: What It Means for Your Credit Score

RBI's New 15-Day Credit Reporting Rule: What It Means for Your Credit Score

The Reserve Bank of India (RBI) has introduced a new rule requiring lenders to update credit bureau records every 15 days, effective January 1, 2025. This change aims to provide a more accurate and up-to-date picture of borrowers' financial behaviors. Previously, updates were made monthly, causing delays in reflecting timely payments or defaults. The new 15-day cycle will ensure faster credit score adjustments, benefiting borrowers with good repayment habits and enabling lenders to make more informed decisions. This shift promises quicker access to loans and better credit risk management.

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