Everyone has their own preferences.well I clean the bore probably once every week.The rifle recieves a rubdown with a lightly oiled cloth everyday so if i find any particles i run a strip of lightly oiled cloth through and follow up with a dry cloth.Is this procedure satisfactory?
I clean the bore on my airguns and rimfire only when the groups begin to open up and that can take well over 1000 shots depending on the ammo being used. Airguns and rimfires actually benefit from a bit of lead deposit in the bore - accuracy wise.
That's a good habit you have of wiping your rifle down with oil everyday. However, you need not do it so often. Once a month or everytime after you have touched the metal will suffice. An oiled cloth is the way to go. Never spray directly.
You don't say whether you use a pull through or a rod. Whether it is from breech to muzzle or the other way around.
I prefer a pull through unless a real scrub is called for. Always pull from breech to muzzle and ensure that the pull through or rod does not scrape against the crown. A damaged crown will result in inaccuracy.
Mack The Knife
P.S.: It just occured to me that you live in Chennai and not a drier clime. In that case, I suggest you wipe the metal down once a week. How are you storing the rifle?