What changed
RBI has amended the Urban Co-operative Banks (Credit Information Reporting) Directions, 2025, introducing specific reference dates (9th, 16th, 23rd, and last day of month) for data submission. Full file must be submitted by the 5th of the next month, while other submissions are limited to incremental accounts with a 4-day deadline. Additionally, UCBs must now report the Central KYC (CKYC) number of borrowers to CICs wherever available.
What it means for you
UCBs need to overhaul their data reporting processes to meet stricter timelines, reducing delays in credit information updates. The incremental reporting requirement reduces data load but demands accurate tracking of changes. Mandatory CKYC reporting will improve borrower identity consistency across the financial system. Non-compliance will be monitored via DAKSH portal, increasing supervisory scrutiny.
What you must do
- Update internal systems to generate and submit credit data as on 9th, 16th, 23rd, and month-end reference dates.
- Ensure full file (all active and closed accounts) is submitted by the 5th of the next month.
- Implement processes to identify and submit only incremental accounts (new, closed, changed, overdue) within 4 calendar days for mid-month submissions.
- Capture and report CKYC numbers for all borrowers to CICs, including fresh applicants.
- Rectify and re-submit rejected data from CICs before the next reporting reference date.
Who it affects
Urban Co-operative Banks (UCBs), Credit Information Companies (CICs), Borrowers of UCBs, RBI's Department of Supervision
What are the new reporting reference dates for UCBs?
UCBs must submit credit information as on the 9th, 16th, 23rd, and last day of each month. The full file (all active and closed accounts) is due by the 5th of the next month, while incremental accounts for other dates must be submitted within 4 calendar days.
What is considered an 'incremental account' for mid-month submissions?
Incremental accounts include accounts opened since the last reference date, accounts where the borrower relationship ended, accounts with changes (e.g., repayment, balance, demographic updates, guarantors), and accounts with overdue interest or principal, including changes in days past due.
When does this amendment take effect?
The amendment directions come into force from July 1, 2026. UCBs should use the interim period to align their systems and processes.