While announcing the Monetary Policy Committee decisions, RBI Governor Shaktikanta Das said the central bank has raised the frequency of reporting of banks to Credit Information Companies to a fortnight.
Banks have been reporting to credit information companies once a month, following which the bureaus would update the credit score of individuals.
RBI has also raised tax payment limit through UPI from Rs 1 lakh to Rs 5 lakh.
RBI has proposed to set up a public repository of digital lending apps to check unauthorised players. It also recommended speeding up clearance of cheques to few hours.
