RBI mandates the reporting of Relationship Segment (RS) data by Credit Institutions (CIs) to Credit Information Companies (CICs). The reporting would be mandatory in respect of new loan accounts opened after July 1, 2022. A phased approach shall be followed for reporting of legacy data. Accounts opened during the period (July 1, 2021 to June 30, 2022) have to be updated by January 1, 2023. The accounts opened in past three years (July 1, 2018 to June 30, 2021) have to be updated by July 1, 2023RBI mandates the reporting of Relationship Segment (RS) data by Credit Institutions (CIs) to Credit Information Companies (CICs). The reporting would be mandatory in respect of new loan accounts opened after July 1, 2022. A phased approach shall be followed for reporting of legacy data. Accounts opened during the period (July 1, 2021 to June 30, 2022) have to be updated by January 1, 2023. The accounts opened in past three years (July 1, 2018 to June 30, 2021) have to be updated by July 1, 2023taxmann.com Latest Statutory HappeningsRead More
