The Reserve Bank of India (“RBI”) in exercise of powers conferred under Section 11 of the Credit Information Companies (Regulation) Act, 2005, vide Circular No. RBI/DoR/2024-25/125 DoR.FIN.REC.No.55/20.16.056/2024-25[1] dated January 06, 2025, issued the Master Direction on Reserve Bank of India (Credit Information Reporting) Directions, 2025 (“Master Directions”). The Master Directions shall come into force with immediate effect.
RBI has periodically issued various instructions and directives to its Regulated Entities (“REs”) regarding credit information reporting. Accordingly, the Master Directions consolidate all such instructions issued to REs concerning the credit information reporting. The Master Directions aim to create a standardized system for the reporting and dissemination of credit information, safeguarding the confidentiality and security of sensitive credit data, and offering consumers mechanisms to access their credit information and address grievances related to credit reporting.
[1]https://website.rbi.org.in/web/rbi/-/notifications/master-direction-reserve-bank-of-india-credit-information-reporting-directions-2025