Faster reporting of Credit Information - RBI Circular

[amitagl27]

RBI released a circular today to increase frequency of reporting. How will this impact us?

The new rule says:

• Banks and lenders must share information with credit bureaus more often (every two weeks instead of every month).
• Credit bureaus must process this information faster.
• Banks and lenders who don't follow the rules will be punished.

Reserve Bank of India - Notifications

 

[D₹V]

Moye moye for defaulters .

Also, this will be difficult for folks who used to use full limit & pay instantly to maintain low usage .

 

[HumorSimpson]

Moye moye for defaulters .

Also, this will be difficult for folks who used to use full limit & pay instantly to maintain low usage .

@SSV CIBIL syllabus changed, please update the lecture notes.

 

[SSV]

@SSV CIBIL syllabus changed, please update the lecture notes.

Nothing changes , don’t worry..
We will find our ways..

 

[ghost of sparta]

RBI released a circular today to reduce frequency of reporting. How will this impact us?

Did you mean ‘increase’ the frequency of reporting?

 

[D₹V]

Did you mean ‘increase’ the frequency of reporting?

Y e s

 

[Ash8]

Did you mean ‘increase’ the frequency of reporting?

++
Even I was confused.

 

[sudoabhi]

this will be difficult for folks who used to use full limit & pay instantly to maintain low usage

These instructions shall be effective from January 1, 2025. However, the CIs and CICs are encouraged to give effect to these instructions as expeditiously as feasible but not later than January 1, 2025.

We have time

 

[HumorSimpson]

These instructions shall be effective from January 1, 2025. However, the CIs and CICs are encouraged to give effect to these instructions as expeditiously as feasible but not later than January 1, 2025.

And by that time we have to see how many cards get devalued.

 

[amitagl27]

Did you mean ‘increase’ the frequency of reporting?

Y e s

++
Even I was confused.

Yes, sorry for the typo and thanks for pointing out. Yes, RBI increased the frequency.

 

[D₹V]

Nothing changes , don’t worry..
We will find our ways..

One solution: pay before you use

 

[SSV]

One solution: pay before you use

whatever suits you !!

 

[D₹V]

whatever suits you !!

You seem inactive these days.

 

[SSV]

You seem inactive these days.

yes very busy with other works , all of a sudden...

 

[D₹V]

yes very busy with other works , all of a sudden...

Good for you