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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Reserve Bank of India (Credit Information Companies) Directions, 2025

28-Nov-2025 | RBI/DOR/2025-26/378 DOR.FIN.REC.No.297/20.16.056/2025-26

RBI has issued RBI (Credit Information Companies) Directions, 2025 effective from 28th November 2025. Key Highlights: 1. Applicability - Applicable to all Credit Information Companies (CICs) registered under the CICRA Act, 2005, including CRIF, Equifax, Experian, and TransUnion CIBIL. 2. Board Policy - CICs must have Board-approved policies for providing free credit reports, reviewing search-and-match algorithms, information-sharing for SHGs, and grievance redress. 3. Strict rules for investment and foreign ownership - Any person cannot hold more than 10% equity unless specifically permitted by RBI. Higher limits (up to 100%) may be allowed only for reputed global bureaus with diversified ownership. FIIs/FPIs must stay below 10% and cannot seek Board representation. 4. Membership fees capped & strict eligibility for Specified Users (SUs) - CICs may charge a one-time fee up to Rs. 10,000 and annual fee up to Rs. 5,000. SUs must meet strict criteria such as Indian incorporation, strong IT systems, clean track record, audits by CISA-certified auditors, and must store/process data within India. 5. Mandatory data updates by lenders - CICs must ensure credit institutions (CIs) send updated data every 15 days and must report non-compliance by CIs to RBI twice a year. 6. Technical Working Group (TWG) - A permanent TWG with representatives from banks, NBFCs, HFCs, ARCs, SROs, and CICs will review data formats yearly and make recommendations to RBI. A Standing Sub-Group will handle technical issues. For more information, please refer to the attached document.

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