What changed
RBI replaced paragraph 15(1) of the 2025 CIC Directions to mandate weekly incremental submissions (accounts opened, closed, or changed) within 4 calendar days of reference dates (9th, 16th, 23rd), while full-file reporting remains due by the 5th day of the next month. Paragraph 15(2) now requires CICs to report non-adhering CIs to RBI's DAKSH portal at half-yearly intervals (as on March 31 and September 30). Paragraphs 19(1) and 19(2) were substituted to enforce uniform data acceptance validation rules, online maintenance formats, encryption standards, and parameterised rejection reasons across CICs. A new paragraph 19(5) obligates CIs to rectify and resubmit rejected data before or along with the next submission. Additional amendments include changes to paragraphs 20(1), 20(3), 21(10), and 39(1) and 39(2) regarding DQI timelines, DQI computation, uniform enquiry tables, and ingestion timelines.
What it means for you
Banks and lenders must overhaul their data reporting systems to handle weekly incremental file generation and faster turnaround—within 4 days of each reference date. Non-compliance will be systematically tracked by CICs and reported to RBI, increasing regulatory scrutiny. Uniform validation rules and rejection codes will reduce data inconsistencies but require alignment across all CICs. The July 2026 effective date gives time for system upgrades, but preparation should start now.
What you must do
- Upgrade data management systems to generate incremental files (new accounts, closed accounts, changes in outstanding, demographic updates, overdue status) within 4 days of the 9th, 16th, and 23rd of each month.
- Ensure full-file submissions (all active accounts plus closed accounts since last reporting) reach CICs by the 5th of the next month.
- Align with CICs on uniform data acceptance validation rules, online maintenance formats, and encryption standards before July 2026.
- Establish internal processes to promptly rectify and resubmit rejected data before or with the next submission.
- Monitor DAKSH portal reporting obligations for half-yearly compliance submissions to RBI.
Who it affects
All credit institutions (banks, NBFCs, housing finance companies, etc.) that submit data to CICs, Credit Information Companies (CICs) like CIBIL, Equifax, Experian, CRIF High Mark, RBI's Department of Supervision (for monitoring compliance via DAKSH)
What is the effective date of these new reporting timelines?
The amendment directions come into force from July 1, 2026, giving institutions about 18 months to prepare.
What exactly must be included in the 'incremental accounts' submission?
Incremental accounts cover accounts opened since the last reference date, accounts where the borrower relationship ended, accounts with changes due to borrower actions (repayment, outstanding balance change, demographic updates, related party/guarantor/ownership changes, account type changes), and accounts with changes in days past due.
What happens if a credit institution fails to meet the new submission deadlines?
CICs are required to report the list of non-compliant CIs to RBI's DAKSH portal at half-yearly intervals (as of March 31 and September 30) for monitoring and potential supervisory action.