CIBIL (CREDIT INFORMATION BUREAU INDIA LIMITED) OR CREDIT REPORT
CIBIL stands for Credit
Information Bureau India Limited (august 2000) . It is the india’s first Credit
Information company (CIC)
.Headquarter situated at Hoechst House, 193 Backbay Reclamation, Nariman Point, Mumbai, Maharashtra, India.
CIBIL collects and maintains all data of an individual’s payments to loans and credit cards.These records are submitted to CIBIL various banks and other credit institutions, on a fix
time basis. Then the information is then to create Credit Information Reports (CIR) and
on the basis of CIR credit score are
provided. These scores are very helpful to understand the credit worthiness of
the borrower at the time of giving loan. CIBIL plays a very crucial role in Indian’s Economy .It also helps the loan provider to
manage their business and also their customers .
Satish Pillai is the managing director of CIBIL.
CIBIL also plays a very important role in reducing the rate of NPA because it provide a credit score to the borrower so that the bank can calculate the amount of risk of the loan on the basis of loan and provide the loan on basis of that .CIBIL houses credit on over 215 million trades across individuals and businesses.
