New CIBIL Reporting Frequencies of Various Banks from January 2025

[SSV]

Guys,
We already know that the new norms of cibil reporting comes into place w.e.f 1 Jan 2025.
As per the new rules ,the banks and other financial institutions should report outstanding balances of loans and credit card accounts atleast every fortnight. In this regard some banks adopted fortnightly and some adopted weekly reporting.
Let's collate the list of various banks with their frequency of reporting here in this thread..
The following is the list of Banks with their respective frequency and reporting dates in a month:
We will add more banks to this list as and when the information is available...

Weekly ( Four times, a month)

1. HDFC
   • 7th
   • 15th
   • 22nd
   • 30/31st ( ie month end)

Fortnightly ( Two times, a month )

1. Statement Date and Statement Date + 15 days
   • Amex
   • 
     
2. 15th and month end ( 30/31)
   • Axis
   • BOB Cards
   • Yes Bank
   • SBM Bank
   • Kotak
   • IndusInd
   • RBL
   • Indian Bank(One card)
   • Federal bank
   • AU
   • IDFC

 

[Credit_Cards]

I also

I also observed same thing. But why it doesn’t show up on or after 15th and only visible early this month?

When can we expect them to update for month end?

We will get the pattern soon, one thing is sure it will be faster than before

 

[TrueColours]

Axis: 15/11, 30/11, 15/12, 31/12,... ...

 

[SSV]

Axis: 15/11, 30/11, 15/12, 31/12,... ...

This is correct,
my axis cards were also reported again as of 31/12.
So now we can safely say that it is fortnightly for axis ie as on 15th and 30th / 31st

 

[Nishan11]

BOB & IDFC are still sleeping. ICICI also not reported for few cards yet.

 

[SSV]

BOB & IDFC are still sleeping. ICICI also not reported for few cards yet.

All the banks will come to the party by lthe ast week of this month

 

[fageriaji]

All the banks will come to the party by lthe ast week of this month

I just refreshed my CIBIL score and found that ICICI Bank reporting date for 2 accounts is: 20/11/2024 and SCB reporting date is: 31/10/2024
is ICICI and SCB is not following the RBI directions ?

AXIS: 31/12/2024
SBI Car Loan: 31/12/2024
SBI Credit Credit Card: 07/01/2025
HDFC Credit Card: 07/01/2025
Amex: 18/12/2024 (bill generation date)
SCB (Standard Chartered) : 31/10/2024
ICICI: 20/11/2024

 

[SSV]

I just refreshed my CIBIL score and found that ICICI Bank reporting date for 2 accounts is: 20/11/2024 and SCB reporting date is: 31/10/2024
is ICICI and SCB is not following the RBI directions

Wait until atleast around Jan 22 to Jan 25.
The rules had kicked in from Jan 1

 

[fageriaji]

Wait until atleast around Jan 22 to Jan 25.
The rules had kicked in from Jan 1

Yaah... I will wait but SCB and ICICI should report at least once in a month. SCB reported more then 2 months ago.

 

[paxauquabriba-4876]

whats the reason for this switch to reduced shorter periods ?

 

[fageriaji]

whats the reason for this switch to reduced shorter periods ?

Main reason to update score in shorter periods.
Suppose I used my credit card for 1L just 2 days before the reporting and paid after 5 days of reporting then I have to wait at least 30 days to clear outstanding from credit bureau or may be 2 or 3 months as some banks do not report timely to credit bureaus and it affects to credit score due to high utilization ratio.

 

[paxauquabriba-4876]

Main reason to update score in shorter periods.
Suppose I used my credit card for 1L just 2 days before the reporting and paid after 5 days of reporting then I have to wait at least 30 days to clear outstanding from credit bureau or may be 2 or 3 months as some banks do not report timely to credit bureaus and it affects to credit score due to high utilization ratio.

btw those who pay in full; can they expect bumps in score due to lower utilisation ratios due to change in reporting time-frame ?

 

[fageriaji]

btw those who pay in full; can they expect bumps in score due to lower utilisation ratios due to change in reporting time-frame ?

May be yes, It depends on credit bureau.
I have SCB bank card with a 1.5 L limit I used 1L it in oct and cleared it after statement generation. Now outstanding is zero since 2 months but CIBIL is still showing 1 L as current balance due to non reporting of SCB bank since 31/10/2024

 

[SSV]

whats the reason for this switch to reduced shorter periods ?

RBI guidelines ..
The aim is to have more accurate and more recent reflection of the real creditworthiness of the customer

 

[SSV]

btw those who pay in full; can they expect bumps in score due to lower utilisation ratios due to change in reporting time-frame ?

Largely Yes, for more details see this thread ..

Thread 'CIBIL Score - A Practical Guide'
https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/

 

[SSV]

Earlier Axis used to report at month end. This time also they reported on month end but the date in CIBIL report shows 15/12/2024. What can be inferred from this?

Means, axis decided to report twice a month, month middle and month end..ie exactly following RBI’s guidelines of atleast at fortnightly frequency..

 

[Zacobite]

Largely Yes, for more details see this thread ..

Thread 'CIBIL Score - A Practical Guide'
https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/

Score is topsy turvy... I don't think CIBIL is ready for this.. They are struggling.. Score is all wonky... Crazy times until it settles especially if you are looking for credit.. I was looking for HL.. score fell with 1 enquiry.. i have actually stopped exploring.. Will think of alternatives for next 2-3 months.. @SSV You will need to update the cibil master thread soon once we understand what the hell they are upto.. Experian already tweaked few months ago and scores dropped for all.. Now it is CIBIL time

 

[SSV]

Score is topsy turvy... I don't think CIBIL is ready for this.. They are struggling.. Score is all wonky... Crazy times until it settles especially if you are looking for credit.. I was looking for HL.. score fell with 1 enquiry.. i have actually stopped exploring.. Will think of alternatives for next 2-3 months.. @SSV You will need to update the cibil master thread soon once we understand what the hell they are upto.. Experian already tweaked few months ago and scores dropped for all.. Now it is CIBIL time

Let’s wait for some more time to understand the broader picture

 

[Credit_Cards]

Score is topsy turvy... I don't think CIBIL is ready for this.. They are struggling.. Score is all wonky... Crazy times until it settles especially if you are looking for credit.. I was looking for HL.. score fell with 1 enquiry.. i have actually stopped exploring.. Will think of alternatives for next 2-3 months.. @SSV You will need to update the cibil master thread soon once we understand what the hell they are upto.. Experian already tweaked few months ago and scores dropped for all.. Now it is CIBIL time

For me CIBIL is stable within 5 points range but absurdly going up and down without any change lately which never happened before

 

[SSV]

For me CIBIL is stable within 5 points range but absurdly going up and down without any change lately which never happened before

This may be because of recent implementation of frequent reporting byvthe financial institutions

 

[deepak84]

Thanks for the update......much needed info.