Quick Summary
Introduction The Reserve Bank of India (RBI) has issued a seminal directive titled Master Direction - Credit Information Reporting, 2025, consolidating and updating various credit reporting ecosystem instructions. These comprehensive guidelines, effective immediately, aim to establish a standardize
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Articles Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now
Already a PRO member? Login here for an ad-free experience.
FAQ :
Commercial banks, small finance banks, regional rural banks, urban co-operative banks, state and central co-operative banks, non-banking financial companies (NBFCs), and Credit Information Companies (CICs) registered under the Credit Information Companies (Regulation) Act, 2005, must comply. Payment banks are excluded.
The UCRF is a standardised format for reporting credit information across three segments: the Consumer Segment (individual borrowers), the Commercial Segment (businesses and corporate entities), and the Microfinance Segment (Self-Help Groups and Joint Liability Groups).
The directive includes SMS/email alerts for credit report access or updates, compensation of ₹100 per day for unresolved corrections beyond 30 days, and the provision of one free full credit report annually for individuals.
A Data Quality Index (DQI) framework is mandated for CICs to compute monthly DQI scores for different segments, ensuring the accuracy, completeness, and consistency of credit information submissions. Industry-level benchmarks will also be calculated.
CICs and authorised entities can retain credit data for a maximum of six months. Data can only be shared with third parties with explicit consent from individuals, following a robust due diligence process.
Credit scores across all Credit Information Companies (CICs) are now calibrated within a uniform range of 300 to 900, making them easier for financial institutions and consumers to interpret and compare.
CAclubindia
