What changed
The amendment replaces paragraph 10(2) with a structured reporting schedule: full file by 5th of next month for month-end data, and incremental accounts within 4 calendar days for 9th, 16th, and 23rd reference dates. A new paragraph 12(10) mandates reporting of CKYC numbers to CICs. Paragraph 15 now requires rectification and resubmission of rejected data before or with the next submission.
What it means for you
Banks must overhaul their data submission processes to meet tighter deadlines, reducing lag in credit information updates. The incremental reporting requirement increases operational complexity, especially for tracking account changes. Mandatory CKYC reporting will improve borrower identity consistency across CICs. Non-compliance will be escalated to RBI's supervision department, raising stakes for data quality and timeliness.
What you must do
- Update internal systems to generate full files by 5th of each month and incremental files within 4 days of 9th, 16th, and 23rd reference dates.
- Ensure CKYC numbers are captured and reported for all borrowers where available, including fresh applicants.
- Establish a process to rectify and resubmit rejected data from CICs before the next reporting reference date.
- Train operations and IT teams on the new timelines and incremental account definitions.
- Monitor compliance via DAKSH portal reports and prepare for half-yearly RBI oversight.
Who it affects
All commercial banks (CI) reporting to credit information companies, Credit information companies (CICs) managing DAKSH portal, Bank operations and IT teams handling data submission, Risk and compliance departments
What is the effective date of these amendments?
The amendments come into force from July 1, 2026.
What are the new reporting deadlines for banks?
Full file for month-end (last day) must be submitted by 5th of next month. Incremental accounts for 9th, 16th, and 23rd must be submitted within 4 calendar days from those dates.
What happens if a bank fails to meet the deadlines?
CICs will report non-adherent banks to RBI's Department of Supervision via the DAKSH portal at half-yearly intervals (as on March 31 and September 30) for monitoring.