PSBs have a market share of 56.2 per cent in total advances of scheduled commercial banks
Banks such as State Bank of India and some of the other PSBs have moved to daily data reporting
Public sector banks (PSBs) are well prepared to move to weekly reporting of credit data to credit information companies (CICs) effective July 1, 2026, from the current fortnightly reporting cycle, said a top CIC official. In fact, systems of these banks are already geared to report data, relating to new loans, on a daily basis.
The RBI, in early-December 2025, asked credit institutions, including commercial banks, small finance banks, urban co-operative banks and non-banking finance companies, to shift to weekly reporting of credit data such as account type, credit facility status, type of collateral, identification, among others.
“PSBs are much ahead in the (credit information reporting) journey. In fact, banks such as State Bank of India and some of the other PSBs have moved to daily data reporting. Where new accounts are opened, they are reporting on a daily basis. We have been engaging with the IT and credit departments of PSBs for the last five-seven years. They understand the benefits (of credit information reporting). So, they have been appreciating the benefits of data quality and data freshness…And when we interact with the entire industry, these banks are most excited (about the new development),” said Bhavesh Jain, MD & CEO, TransUnion CIBIL.
PSBs have a market share of 56.2 per cent in total advances of scheduled commercial banks (SCBs).
Data reporting
Jain emphasised that when the entire data infrastructure has been built at the bank end, the frequency of data reporting — monthly, fortnightly, weekly, daily — boils down to just extraction of data. And it’s all automated — at the bank end and at CIBIL’s end.
“So, we are very confident that the industry has matured and is ready. Obviously, at the same time, there is a reasonable time of six months to implement this,” he said.
Jain underscored that daily reporting of credit data is a win-win for both lenders and borrowers. Up-to-date credit history of prospective borrowers will help banks significantly at the underwriting stage.
“From the borrowers’ point of view, if he/she makes a part-payment or does a foreclosure, that information is updated at a higher frequency. So, when this borrower applies for another loan, his/her information is enriched…This gives a lot of insight to a lender about that borrower,” he said.
Published on January 6, 2026
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