Home Informations CIBIL (Credit Information Bureau (India) Limited – Everything You Must Know

CIBIL (Credit Information Bureau (India) Limited – Everything You Must Know

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CIBIL (Credit Information Bureau (India) Limited

TransUnion CIBIL Limited is Formerly known as Credit Information Bureau (India) Limited. This is India’s first Credit Information Company (CIC). The company has founded in August 2000. Now this is India’s leading credit information company with largest collections of consumer information. CIBIL works in a way that, they collects and maintains records of an individual’s payments related to loans and credit cards.

CIBIL is collaborated with various member banks and credit institutions. These institutions submits all records to CIBIL per month. There is also Credit Information Reports (CIR) and credit scores which are provided to credit institutions. The mission of CIBIL is to create information solutions that enable businesses to grow and give consumers faster, cheaper access to credit and other services. 

CIBIL is licensed by the RBI. Credit Information Reports (CIR) and credit scores are used to evaluate and approve loan applications for each person. There is more than 900 strong member base for CIBIL. The list includes non-banking financial companies, all leading public & private sector banks, financial institutions, and housing finance companies. CIBIL easily called as Credit Bureau. 

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This is governed by the Credit Information Companies Regulation Act, 2005. CIBIL offers credit over 220 million trades among individuals and businesses. These coming under two divisions: Consumer Bureau, Commercial Bureau and MFI Bureau. The Consumer Bureau of CIBIL features 4 million records, and now maintains more than 260 million records.

While the Commercial Bureau of CIBIL maintained with 0.7 million records, and now maintains more than 12 million records. Another important aspect of CIBIL is the Credit/CIBIL Score. It is a three digit numeric summary of your entire credit history. The score is generated as per the informations provided in your Credit Information Report.

The credit score of CIBIL normally ranges between 300 to 900. You can simply check your CIBIL score online. For this need you have to fill an online score request form which is available at CIBIL’s official website. Technical partners of CIBIL (Credit Information Bureau (India) Limited are TransUnion International and Dun and Bradstreet.

List of Shareholders for CIBIL includes TransUnion International Inc (82.1%), Bank of India (5)%, Union Bank of India (5)%, Aditya Birla Trustee Company Private Ltd. (4)%, India Alternatives Private Equity Fund (2.9%), India Infoline Finance Limited (1%) etc. Key factors that may affect your CIBIL score includes Payment history, Unsecured loans, Multiple loans & Credit Cards, Increased credit limit etc. To improve your CIBIL score you have to Know where you stand, Never delay payments, Mix your credit, Don’t max out your credit , Limit your cards/loans etc.

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