Reserve Bank of India (Local Area Banks – Credit Information Reporting) Directions, 2025
The Reserve Bank of India (RBI) on November 28, 2025, issued the Reserve Bank of India (Local Area Banks – Credit Information Reporting) Directions, 2025.
The following has been stated: -
•These directions, called the Reserve Bank of India (Local Area Banks – Credit Information Reporting) Directions, 2025, are issued under Section 11 of the Credit Information Companies (Regulations) Act, 2005 (CICRA) and apply to Local Area Banks (LABs), referred to as Credit Institutions (CIs).
•The directions aim to establish a standardised framework for reporting credit information, safeguarding data, and providing consumer access and grievance redressal.
•All LABs are required to become members of all registered Credit Information Companies (CICs), with a limit on the one-time membership fee (≤ ₹10,000) and the annual fee (≤ ₹5,000) for each CIC.
•LABs must adhere to standardised data formats, known as the Uniform Credit Reporting Format (UCRF) (Forms 1, 2, and 3 for Consumer, Commercial, and MFI segments, respectively), for reporting credit information to all CICs.
•Crucially, CIs must keep credit information updated regularly on a fortnightly basis (as on the 15th and last day of the month) and submit the data within seven calendar days of the relevant reporting fortnight.
•Furthermore, the requirement for a 'consent clause' from borrowers is deemed redundant due to the statutory backing provided by the CICRA for information sharing.
•In commercial reporting, CIs must report the Corporate Identification Number (CIN) and directors' credit history (using DIN), and also report cases of compromise settlements and details of part instalment overdues.
These directions shall become effective on November 28, 2025.
[Notification No.:RBI/2025-26/231 DOR.FIN.REC.No.150/20.16.056/2025-26]
