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15-Day Credit Score Updates
January 12 , 2025
17 hrs 0 min
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- RBI has mandated that all lenders must update credit bureau records every 15 days, effective January 1, 2025.
- This regulation aims to provide a more accurate and timely representation of borrowers' financial activities.
- It is ultimately transforming how credit scores are calculated and published.
- Historically, credit bureaus received updates from lenders only once a month.
- The rule aims to halt 'evergreening,' where borrowers take new loans to repay old ones, creating unsustainable debt cycles.
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