What changed
The amendment replaces the previous paragraph 10(2) with a new schedule: NBFCs must submit full credit files by the 5th of next month for month-end data, and incremental files within 4 calendar days for 9th, 16th, and 23rd reference dates. A new paragraph 12(10) mandates reporting of CKYC numbers to CICs whenever available. Paragraph 15 now requires rectification and re-submission of rejected data before or with the next reference date submission.
What it means for you
NBFCs must overhaul their data management systems to meet tighter weekly reporting cycles, increasing operational costs and compliance burden. The CKYC requirement will improve borrower identity consistency across lenders. Non-adherence to timelines will be reported to RBI's supervision department, raising the stakes for data quality and timeliness.
What you must do
- Update internal systems to generate and submit full credit files by 5th of each month and incremental files within 4 days of 9th, 16th, and 23rd.
- Integrate CKYC number capture into borrower onboarding and existing records, and report to CICs.
- Establish a process to rectify rejected data from CICs before the next reference date submission.
- Train staff on the new reporting timelines and incremental account definitions to avoid compliance gaps.
Who it affects
All NBFCs covered under the Credit Information Reporting Directions, Credit Information Companies (CICs), RBI's Department of Supervision (for monitoring compliance)
What is the effective date of these amendments?
The amendments come into force from July 1, 2026.
What are the new reporting reference dates?
NBFCs must report credit information as on the 9th, 16th, 23rd, and last day of each month.
What happens if an NBFC fails to meet the data submission timelines?
CICs will report such NBFCs to RBI's Department of Supervision via the DAKSH portal at half-yearly intervals (as on March 31 and September 30) for monitoring.