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RBI asks banks to report to credit bureaus every two weeks

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RBI asks banks to report to credit bureaus every two weeks
This is going to change your info update on credit scores to be reflected quickly so now you can see your loans -repayments -enquires sooner 

one con for those who like to repay before bill generation on credit cards  to hack  credit utilization is going to be nullified 

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Pro Community Angel Pro Community Angel
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@Gulag-Survivor

There is no requirement as such. Only reason could be for rewards but i feel its too much hassle for 10-20k per month benefit.

Random frauds keep happening, also i dont have much requirement for travel and food offers so most credit card benefits are useless for me.

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Deal Cadet Deal Cadet
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Yeahhhhh

Pro Community Angel Pro Community Angel
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No idea of credit cards bro, never had one and probably never would in future 

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Deal Lieutenant Deal Lieutenant
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VU+ for the post to get this well known to all credit card users out there:) 

very important news:)) no more hack using credit cards xDDD

Generous Generous
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Isme khush hone ki baat hai ya dukhi? Kya fark padega considering i use cc heavely

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Not for every credit card user but few may have very significant changes 

straight forward ,high spending , non manufactured spenders , non  rotaters etc will have negligeable implications


Since some have pioneered LEGAL cash to acc via cc or would manufacture artificial low credit utilization or milk every last bit of juice on credit cards will have to think about this 


basically for those who dont need credit need not worry

But those who need it badly are going to face burnt 

Deal Subedar Deal Subedar
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The day is not far when RBI will ask all banks to show credit card expenses in AIS report whether it is Rs 1 or Rs 10 lakh😄

Deal Lieutenant Deal Lieutenant
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it is very near
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Deal Subedar Deal Subedar
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No worries, will now repay on the same day of spending joy

Deal Lieutenant Deal Lieutenant
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hmmm thats double hazzle, we can do this but 99% wont do
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Deal Subedar Deal Subedar
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Me chilling here with more than 90% utilisation and 780 CIBIL score.

Deal Lieutenant Deal Lieutenant
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ya if you have good credit history utilization dont matter:) on the long run as long as you have good repayment and supporting loans:)
Deal Newbie Deal Newbie
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RBI is suspecting money is coming to F&O through all credit channels

Deal Lieutenant Deal Lieutenant
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oh nah money is coming from no more FDs in minds of youngsters xD



so banks are praying to get money lol


and RBI is trying to push blame on something lol

Finance Mentor Finance Mentor
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doesn't matter to me, target already achieved, time to cut some off...

Finance Mentor Finance Mentor
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Why no realtime reporting that too make data available publicly 

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Because of the reconciliation & other process it's still not possible 

Yes it's a matter of time it should become realtime...making it public is still not contested policy 

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