RBI Mandates Credit Info Sharing for Suit-Filed Accounts
Current · Source: Reserve Bank of India · RBI/2011-12/165 · issued 05 Sep 2011 · ~2 min read
Quick answerRBI now requires banks to submit quarterly lists of suit-filed accounts of Rs 1 crore and above (doubtful/loss) and wilful defaulters of Rs 25 lakh and above to all RBI-registered Credit Information Companies (CICs) for public dissemination on their websites.
The rule, in the simplest words
Banks must send a list every 3 months (quarterly) of accounts where they have filed a court case (suit-filed) for loans of Rs 1 crore or more that are marked as 'doubtful' or 'loss' (meaning the bank thinks it may not get the money back).
Banks must also send a list every 3 months of people who have willfully not paid back loans of Rs 25 lakh or more (wilful defaulters).
These lists must be sent to ALL credit information companies (CICs) that the bank is a member of, like CIBIL, Experian, Equifax, and High Mark, not just one.
Ravi, a credit & lending officer in Indore, checks his bank's records every quarter. He finds a customer who took a Rs 1.5 crore business loan and stopped paying, so the bank filed a court case. Ravi adds this account to the quarterly list and sends it to all four credit bureaus his bank works with, including CIBIL and Experian, so other lenders can see the defaulter's name on their websites.
What changed
RBI expanded the earlier requirement of submitting suit-filed account data only to CIBIL to include all RBI-registered CICs (Experian, Equifax, High Mark). Banks must now share quarterly lists of suit-filed accounts of Rs 1 crore and above classified as doubtful or loss, and wilful defaulters of Rs 25 lakh and above, with any CIC they are a member of. These CICs are directed to publish the credit information on their websites.
What it means for you
Banks must now report suit-filed accounts to multiple credit bureaus, not just CIBIL, increasing data coverage and transparency. This will help lenders access a more comprehensive view of defaulters across the system, reducing information asymmetry. Public dissemination on CIC websites puts pressure on defaulters and aids credit discipline. Banks need to ensure timely and accurate submission to all member CICs to avoid compliance gaps.
What you must do
Identify all suit-filed accounts of Rs 1 crore and above classified as doubtful or loss, and wilful defaulters of Rs 25 lakh and above.
Submit quarterly lists (as at end-March, June, September, December) to each Credit Information Company (CIC) your bank is a member of.
Update internal reporting systems to generate these lists automatically and ensure data accuracy before submission.
Verify your bank's membership status with all RBI-registered CICs (Experian, Equifax, High Mark, CIBIL) and onboard if needed.
Monitor CIC websites to confirm your data is disseminated correctly and address any discrepancies promptly.
Who it affects
All Scheduled Commercial Banks (excluding RRBs and LABs), All India Notified Financial Institutions, Credit Information Companies (CIBIL, Experian, Equifax, High Mark)
❓ Common questions
What is the threshold for reporting suit-filed accounts under this circular?
Banks must report suit-filed accounts of Rs 1 crore and above that are classified as doubtful or loss. For wilful defaulters, the threshold is Rs 25 lakh and above.
How often do we need to submit this data to CICs?
The submission is quarterly, with data as at the end of March, June, September, and December each year.
Do we need to report to all CICs or just CIBIL?
You must report to any CIC that has obtained a Certificate of Registration from RBI and of which your bank is a member. This includes CIBIL, Experian, Equifax, and High Mark.
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/165
DBOD.No. CID.BC.30 /20.16.042/2011-12
September 5, 2011
Chairmen/Managing Directors/CEOs
All Scheduled Commercial Banks
(excluding RRBs and LABs)
All India Notified Financial Institutions
Dear Sir,
Submission of Credit Information to Credit Information Companies –
Defaulters of Rs. 1 Crore and above and
Wilful Defaulters of Rs. 25 lakh and above –
Dissemination of Credit Information of suit-filed accounts
Please refer to our Circulars DBOD.No.DL.BC.111/20.16.001/2001-02 dated June 4, 2002 regarding submission of credit information to Credit Information Bureau (India) Ltd (CIBIL) and DBOD No. DL.BC.95/20.16.002/2003-04 dated June 17, 2004 regarding the Dissemination of Credit Information – Role of CIBIL.
2. As you are aware, Certificate of Registration (CoR) has since been issued to 3 Credit Information Companies (CICs), viz., M/s Experian Credit Information Company of India Pvt. Ltd, M/s Equifax Credit Information Services Pvt. Ltd and M/s High Mark Credit Information Services Pvt. Ltd to commence the business of credit information under the Credit Information Companies (Regulation) Act, 2005.
3. You are advised to submit the quarterly list of suit-filed accounts of Rs.1 Crore and above, classified as doubtful or loss, to CIBIL and/or any other credit information company which has obtained CoR from RBI and of which your bank is a member.
4. In terms of Para 2.9 of Master Circular on Wilful Defaulters dated July 1, 2011, Banks / FIs have already been advised to submit the list of suit-filed accounts of wilful defaulters of Rs. 25 lakh and above as at end-March, June, September and December every year to CIBIL and / or any other credit information company which has obtained CoR from RBI and of which that bank is a member.
5. Further, we advise that the above CICs have been advised to disseminate credit information covering data supplied by banks / FIs on such suit-filed accounts on their respective websites.
Yours faithfully
(P R Ravi Mohan)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/165 · issued 05 Sep 2011. The plain-English explanation above is BankPulse’s own independent summary.
Update internal reporting systems to generate these lists automatically and ensure data accuracy before submission.
📜 Compliance
Identify all suit-filed accounts of Rs 1 crore and above classified as doubtful or loss, and wilful defaulters of Rs 25 lakh and above.
Submit quarterly lists (as at end-March, June, September, December) to each Credit Information Company (CIC) your bank is a member of.
Verify your bank's membership status with all RBI-registered CICs (Experian, Equifax, High Mark, CIBIL) and onboard if needed.
Monitor CIC websites to confirm your data is disseminated correctly and address any discrepancies promptly.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (All Scheduled Commercial Banks (excluding RRBs and LABs), All India Notified Financial Institutions, Credit Information Companies (CIBIL, Experian, Equifax, High Mark)), your first concrete step on “RBI Mandates Credit Info Sharing for Suit-Filed Accounts” is: “Identify all suit-filed accounts of Rs 1 crore and above classified as doubtful or loss, and wilful defaulters of Rs 25 lakh and above.” (RBI issued this 05 Sep 2011).
Circular: RBI/2011-12/165 -- RBI Mandates Credit Info Sharing for Suit-Filed Accounts
Issued: 05 Sep 2011
Action required: Identify all suit-filed accounts of Rs 1 crore and above classified as doubtful or loss, and wilful defaulters of Rs 25 lakh and above.
Action required: Submit quarterly lists (as at end-March, June, September, December) to each Credit Information Company (CIC) your bank is a member of.
Action required: Update internal reporting systems to generate these lists automatically and ensure data accuracy before submission.
Action required: Verify your bank's membership status with all RBI-registered CICs (Experian, Equifax, High Mark, CIBIL) and onboard if needed.
Action required: Monitor CIC websites to confirm your data is disseminated correctly and address any discrepancies promptly.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6693&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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