Have you ever felt frustrated when your loan application was rejected, even though you had paid all your dues on time? Or maybe you cleared a big credit card bill, but your credit score didn’t reflect it for weeks. Situations like these leave you helpless, confused, and sometimes even embarrassed.
The good news is, starting January 1, 2025, the Reserve Bank of India (RBI) has rolled out new CIBIL rules that will finally give borrowers the transparency and fairness they’ve been asking for. These changes are designed to make credit scores more accurate, faster to update, and easier for you to track.
Faster Credit Score Updates
Earlier, credit scores were only updated once a month. That meant if you repaid a loan or cleared your credit card bill, you had to wait weeks before it showed up in your score.
Now, under the new rules, CIBIL scores will be updated every 15 days.
This small change makes a huge difference:
- If you repay a big EMI or close a loan, your score improves within two weeks.
- Faster updates mean quicker loan approvals and even better chances of getting lower interest rates.
Mandatory Disclosure for Loan Rejections
One of the most painful experiences is getting a loan rejected without knowing why. Banks never really explained the reason, and you were left guessing.
That changes now. Lenders are required to tell you clearly if your loan or credit card was rejected because of a low CIBIL score.
This level of honesty means you can finally take corrective steps—whether it’s fixing an error in your report or working on improving your credit behavior. No more shooting in the dark.
One Free Credit Report Every Year
From 2025, every borrower will get one free CIBIL report annually.
Why does this matter? Because checking your report helps you:
- Catch errors before they hurt your score.
- Spot any fraudulent activity.
Quicker Error Correction with Penalties for Delays
Errors in credit reports can ruin opportunities. Sometimes, a loan marked as “active” even after repayment or a wrong default entry can drag your score down unfairly.
Now, you’ll have the right to challenge errors within 30 days. Credit bureaus must fix them within 100 days. If they fail, they’ll pay a penalty of ₹100 per day.
