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RBI is now preparing to update the credit score not twice a month but every week, due to which the entire credit system is going to change. With this, borrowers will immediately see the benefits of timely repayment, while banks will get more accurate and fresh data. According to experts, this step will make the loan process fast, transparent and reliable, which will provide huge benefits to both customers and banks.
New Delhi. The system related to credit score in India is going to undergo major changes soon. RBI has issued an important draft, under which now the credit score will be updated every week. Currently the score is updated twice a month, but from April 2026 this process will become faster. This will not only make it easier for borrowers to get loans and credit cards, but banks will also get more accurate and up-to-date data. Experts say that this change will make the Indian credit ecosystem more transparent and trustworthy than before.
Now your credit data will be refreshed every week, not every month.
According to the draft of RBI’s Credit Information Reporting Amendment, 2025, Credit Information Companies (CICs) like CRIF High Mark will have to refresh the data on 7th, 14th, 21st, 28th and last day of every month. If desired, it can be updated more often than this in case of agreement with the bank and NBFC. Banks will have to send complete month-end data within three days and for each weekly update, only new or changed data will have to be submitted within two days. This will include all the information about new accounts, closed accounts, repayment updates, demographic changes and classifications like SMA. Non-adherence to the deadline will have to be reported to CICs on the DAKSH portal of RBI.
Borrowers will get immediate benefit from fast update
The biggest impact of this change will be on the borrowers. Till now it used to take more than two weeks to see improvement in credit score, but now with weekly updates this improvement will be visible sooner. Repaid any loan, paid the credit card bill on time or rectified any mistake – their effect will be quickly reflected in the score. This will increase the chances of loan approval and may also lower interest rates as many banks adopt score-based pricing. At the same time, problems like wrong reporting or data mismatch will also be caught early, which can reduce disputes and complaints.
Banks will get new tool, it will be easier to assess risk
Banks will also benefit greatly from weekly reporting as they will be able to get fresh and accurate borrower data. With this, banks will be able to do better underwriting, that is, it will be possible to evaluate which customer is a riskier one in a more reliable manner. With the new data, banks will be able to decide elements like interest rate, amount and tenure of the loan more effectively. Apart from this, we will also be able to better monitor the loan quality. This step of RBI moves the Indian credit system towards real-time data, due to which daily or real-time updates may also be possible in the future.
