CIBIL Score New Rules 2025 : To maintain a good CIBIL score, it is important to pay your loan EMIs on time along with other bill payments. Failure to do so can negatively impact your credit score. Now, the Reserve Bank of India (RBI) has introduced six new rules regarding CIBIL scores that will benefit bank customers. Earlier, consumers often faced various issues related to credit scores, but these new guidelines will provide significant relief.
RBI was receiving continuous complaints
It is not always the customer’s fault when a CIBIL score gets affected; sometimes, errors from banks and credit institutions also lead to a poor score. RBI had received several such complaints. To address these concerns, six new rules have been introduced in favor of customers.
1. Faster CIBIL score updates
As per the new rules, CIBIL scores will now be updated twice a month, i.e., every 15 days. This will benefit both banks and customers. Banks will be able to make timely lending decisions, and customers will have updated scores when applying for loans. All banks, NBFCs, and credit institutions must follow these guidelines.
2. Customers will be informed when their score is checked
Whenever a bank checks a customer’s CIBIL score, the customer must be informed. RBI has instructed all banks and NBFCs to notify customers via SMS or email. Credit information companies should also be aware of these checks.
3. No secret rejection of requests
RBI has clarified that banks cannot reject a customer’s request secretly. Customers must be told the reason for rejection. Additionally, banks will have to maintain a list of such rejected cases and share it with credit institutions.
4. Free full credit report once a year
According to RBI’s new rules, credit companies must provide customers with a free full credit report once every year. A link for this report should be displayed on the company’s website so customers can access their full credit history and score easily.
5. Customers must be informed about defaults
If a bank or NBFC reports a customer as a defaulter, the customer must be informed via SMS or email. RBI has also directed lenders to appoint a nodal officer who will monitor and resolve issues related to credit scores.
6. Resolution within 30 days
Any issue related to a CIBIL score must now be resolved within 30 days. Once a bank informs a credit information company about an error, the company must address it within 9 days. Similarly, banks must resolve customer complaints within 21 days. If they fail to do so, the responsible party will face a penalty of ₹100 per day for the delay.
With these new rules, RBI aims to make the CIBIL score system more transparent, fair, and customer-friendly.