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RBI wants your credit score updated every week—here's why it matters
Business
Big news for anyone with a loan or credit card: the Reserve Bank of India (RBI) is planning to make credit scores update every week instead of fortnightly.
This means your score could reflect positive changes much faster, helping banks and customers get more accurate info on a weekly basis.
What's changing and how does it help you?
Starting April 1 next year, Credit Information Companies will update scores on the 7th, 14th, 21st, 28th, and last day of each month—so if you pay off debt or improve your finances, you won't have to wait long to see it reflected.
For borrowers, this means quicker access to loans or cards when your score improves; for banks, it means better risk checks.
It's a win-win for staying on top of your financial game.