Credit Score: The Reserve Bank of India (RBI) has revealed a major update to the credit score updating process. Starting April 1, 2026, all credit information companies (CICs) across the nation will be mandated to refresh customers’ credit scores every seven days, or weekly. In the past, this update occurred every 15 days.
With this new regulation, banks will provide complete data to CICs by the 3rd of each month, while only updating incremental data on the 7th, 14th, 21st, 28th, and the final day of the month. The benefit of this change is that if you pay your credit card bill promptly or repay a loan, your score will improve quickly. This will help you secure better credit cards, loans with lower interest rates, and new loan approvals.
Credit reports will now be updated more swiftly than before, enhancing banks’ risk evaluations and allowing them to make better-informed lending choices. This adjustment will not only reflect customers’ financial health more promptly but also improve credit transparency. Experts believe this initiative will set the stage for real-time credit updates in the future.
This new regulation enables customers to swiftly view and rectify any inaccuracies in their credit reports and scores. Timely payments will have an immediate positive effect, resulting in quicker loan approvals. This will render both financial transactions and the loan process more transparent and efficient.
This initiative by the RBI is advantageous for both the public and bankers. It offers borrowers improved and more current credit information and allows banks to evaluate risk promptly, determine loan pricing, and assess eligibility. This rule is seen as a significant advancement towards fortifying India’s credit system.
