RBI made special rules for CIBIL score, Cibil Score New Rules 2025

RBI made special rules for CIBIL score, Cibil Score New Rules
CIBIL score

Cibil Score New Rules: The Reserve Bank of India (RBI) has taken a big decision regarding CIBIL score, which is considered the most important in taking a loan. For some time now, there have been complaints that banks and credit companies do not provide information related to CIBIL score to customers, or their loan requests are rejected without giving any reason. In view of these problems, RBI has issued new guidelines. Through which customers will now get both transparency and convenience.

Now the customer will have to give information on checking CIBIL score

According to the new rules of RBI, if any bank, NBFC or credit information company checks the CIBIL score or credit report of a customer, then it will be mandatory to inform the customer about it. This information can be given through SMS or email. This will give the customer information about when, which organization has checked his score and why

Loan or credit request will not be rejected without reason


The biggest relief to customers will come from the fact that now no bank or institution will be able to reject any loan or credit card request without giving any reason. RBI has given clear instructions to all the institutions that if any application is rejected, then the reason for the same will have to be given to the customer in writing. This will give customers an opportunity to understand and improve their shortcomings.

Free credit report will be available once a year


Now every customer will be provided with his full credit report once a year for free. RBI has implemented this rule for all credit information companies. In this report, the customer will get information about his credit score, old loans, payment history and all financial details. With which he will be able to make future financial plans easily. This report can be obtained through a direct link on the website of the credit company.

Information has to be given before default


According to the new rules, now no customer can be declared a defaulter directly. If a person’s loan payment is pending and he is reaching the default situation, then he will be informed in advance through SMS or email. This will give the customer another chance to save his credit score from getting spoiled. Along with this, every bank and NBFC will have to appoint a nodal officer, who will solve such problems on time.

The complaint will be resolved within 30 days

The bank will have to send that complaint to the concerned credit company within 21 days.
The credit company will have to solve that problem within 9 days.
In this way, it will be mandatory to solve the customer’s problem within a total of 30 days. If any bank or company does not follow this time limit, then a fine of Rs 100 will have to be paid every day.

Bank and NBFC will be fined


To strictly implement these rules, RBI has made it clear that if a bank or credit institution violates these instructions, then financial penalty will be imposed on them. This will determine the accountability of companies and banks and will curb the wrong behavior with customers.

Credit score will now be easy to improve


With the implementation of these new rules, customers will now get both time and information to improve their credit score. Earlier many people used to become a defaulter inadvertently. But now they will get information in advance. Also, by getting full report at one time, customers will be able to review their old financial records and will be able to improve if needed.

Big step towards digital and transparent system


These rules of RBI are an important step towards digital and transparent banking system. This will not only provide financial freedom and security to customers. Rather, the seriousness and trust of the banking sector will also be strengthened. Now both the customer and the bank will do financial transactions with equal responsibility and understanding.

🏦 CIBIL Score New Rules FAQ – As per RBI Guidelines (Effective from 1st [Month])

Q1: What are the new RBI rules regarding the CIBIL score?

A: The Reserve Bank of India (RBI) has introduced new guidelines to make credit score reporting more transparent, accurate, and consumer-friendly. These rules include timelines for reporting, better grievance redressal, and free access to credit scores.

Q2: When do these new CIBIL score rules come into effect?

A: The new rules will be effective from 1st [Month], as per RBI’s notification.

Q3: What is the biggest change introduced by the RBI in CIBIL reporting?

A: One major change is that credit information companies must provide one free full credit report per calendar year (including the credit score) to each consumer, with improved clarity and formatting.

Q4: How will these rules benefit borrowers and consumers?

A:

  • Better access to credit reports
  • Easier error correction and dispute resolution
  • Timely updates of repayment history
  • Transparency in loan/credit card rejections due to low scores

Q5: What should I do if I find an error in my CIBIL report?

A: Under the new rules, you can raise a dispute directly with the credit bureau or the financial institution. They are now required to resolve disputes within a stipulated time, usually 30 days.

Q6: Can banks still reject loans based on credit scores?

A: Yes, but now they must disclose the reason if your credit score was a factor in rejection, ensuring more transparency in lending decisions.

Q7: Will my credit score change immediately after this rule comes into effect?

A: No, your score will not change automatically, but the reporting process will become more accurate and timely, which can help reflect improvements in your credit behavior faster.

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