RBI’s Big Decision: Credit Scores to Be Updated Weekly
The reserve bank of india (RBI) has announced a major change that will benefit millions of borrowers and credit card users across the country. From now on, your credit score will be updated every week, replacing the previous system where updates were often delayed by months.This move comes as a relief for individuals who have recently cleared loans, repaid credit cards, or improved their financial profile, as they no longer have to wait long periods to see the positive impact on their credit score. Weekly updates will ensure that credit scores reflect the most current financial behavior, making it easier for lenders and borrowers to access accurate information.Experts say this change will enhance transparency, encourage timely repayments, and improve access to credit. A higher, up-to-date credit score can help borrowers secure loans, credit cards, or other financial products more easily, while also encouraging responsible financial management.RBI’s initiative data-aligns with its broader efforts to modernize the financial system and make credit reporting more efficient and borrower-friendly. Individuals are advised to monitor their credit scores regularly to take full advantage of the weekly updates. Disclaimer:The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.