Could you please explain how frequently credit bureaus like CIBIL, Experian, or Equifax update credit scores in India? I am curious to understand how soon my credit score reflects changes after I make payments, take a loan, or apply for a credit card. I believe RBI has changed a rule regarding time to update the credit score by credit information companies.
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Under the new rule by RBI which came into effect on January 1, 2025, RBI has mandated that all credit information companies (like CIBIL, Experian, and Equifax) update your credit data every 15 days. So every 15 days credit score gets updated.
How much time did credit information companies take earlier to update credit scores?
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Earlier, it used to take 30 to 45 days for your credit score to get updated