RBI Announces Fortnightly Credit Reporting: What It Means for Borrowers and Lenders
| Aspect | Details |
|---|---|
| Announcement | RBI changes credit information reporting frequency from monthly to every 15 days. |
| Effective Date | Immediate |
| Key Objectives | 1. Faster updates for borrowers. |
| 2. Enhanced accuracy of credit reports. | |
| 3. Better risk assessment for lenders. | |
| Impact on Borrowers | Changes in credit status (e.g., loan repayments) will reflect more promptly. |
| Impact on Lenders | Improved risk assessment, leading to more informed lending decisions. |
| RBI Governor's Statement | Shaktikanta Das stated this would enhance transparency and promote a healthier credit culture. |
| Expert Reactions | 1. Vishal Sharma (AdvaRisk CEO): Praised the move as progressive. |
| 2. Anil Gupta (ICRA Ltd.): Noted quicker updates will improve lending decisions. |