Credit score will be updated every 7 days from April:RBI issues draft guidelines, credit companies to face penalties for incorrect reporting

The Reserve Bank of India (RBI) issued draft guidelines on 26 November 2025 to strengthen the country’s loan structure. These will be implemented from 1 April 2026. Now you won’t have to wait long for credit score updates. All Credit Information Companies (CICs) will have to update credit scores every 7 days. Currently, scores are updated once every 15 days. CICs will need to keep data updated on the 7th, 14th, 21st, and 28th of each month and until the last day of the month. Banks will send data by the 3rd of each month. Incremental data, meaning new changes, will be sent on these four dates. This includes data such as account opening, closing, changes affecting credit score, or changes in loan status. 4 direct benefits of the new rules (If any bank does not send data on time, CICs will have to report it on RBI’s DAKSH portal) Now let’s understand what a credit score is: Credit score includes a person’s credit record with loan account (credit card and loan) information, bankruptcy and late payments (if any). This means the report shows when you applied for loans or credit cards, which banks or loan institutions gave you loans or credit cards, and whether you paid your loan or credit card EMIs and bills on time or not. Another important information included in the credit report is the list of banks/NBFCs that have checked your credit report. Currently in India, credit reports are issued by licensed Credit Information Companies (CICs). What factors determine credit score A person’s credit score largely affects their loan eligibility. Credit score is determined by several specialized credit profiling companies. They look at whether you have taken loans before and how you have used credit cards etc. A person’s credit score depends on repayment history, credit utilization ratio, existing loans and timely payment of bills. 30% of credit score depends on whether you are repaying loans on time or not. 25% depends on secured or unsecured loans, 25% on credit exposure and 20% on debt utilization. Credit score ranges between 300 to 900 While the credit score range is between 300 to 900. However, a score of 550 to 700 is considered okay. Scores between 700 to 900 are considered very good. How to check CIBIL score? CIBIL score can be checked for free on the official CIBIL website www.cibil.com. However, this facility is available only once a year. To check CIBIL score more than once from the CIBIL website, you need to take a monthly subscription plan of Rs 550. In addition, many banking service aggregators also provide CIBIL score checking facility.