Archive · 2 Jul 2025
RBI Asks for Real-Time Credit Data Reporting
Imagine a bank that gives out loans.
To make better decisions, banks need up-to-date information about your finances.
A top official from India's central bank, M Rajeshwar Rao, wants this information to be available much faster.
Currently, companies update this data every two weeks.
He wants it in real-time so they can see what's happening with the money and make better decisions when deciding if you can get a loan.
This would help more people get loans, especially small business owners.
RBI Deputy Governor M Rajeshwar Rao urged credit information companies to switch to real-time data reporting.
Rao stated that faster data relaying will enhance trust and transparency in the system.
He mentioned that real-time reporting would improve underwriting and consumer experience.
Rao advocated for a unique borrower identifier to avoid duplication and misreporting.
He highlighted the use of AI/ML in credit and tokenization to help MSMEs.
- Who
- M Rajeshwar Rao, Deputy Governor of RBI.
- What
- RBI Deputy Governor M Rajeshwar Rao requested credit information companies move to real-time data reporting.
- When
- Tuesday at a conference.
- Where
- Mumbai.
- Why
- To improve efficiency, transparency, and the consumer experience in credit reporting.
Challenges and Costs
Future of Lending
Cost-Benefit Analysis
Challenges and Costs
Investment in technology, process re-engineering, and change management needed for real-time reporting.
Future of Lending
The benefits of real-time credit reporting far outweigh the costs.
- Key Figure
- M Rajeshwar Rao
- Organization
- RBI (Reserve Bank of India)
- Topic
- Credit Data Reporting
- Goal
- Real-time Data Reporting
- Benefits
- Better underwriting, improved consumer experience
