What is CIBIL?

CIBIL stands for Credit Information Bureau (India) Limited. It is an ISO 27001:2005 company, founded in the year 2000 and an integral part of Indian financial system. It is also India's premier Credit Information Company (CIC). CIBIL works in association with and Dun and Bradstreet and TransUnion International Inc.

  • CIBIL has a certain clout in finance sector of India, as it brings transparency in the credit system.
  • The banks first sought it in 2007, which then extended to individuals in 2011.
  • Some of the notable services it launched are CIBIL Mortgage Check and CIBIL Detect.

The organization records credit related details of individuals, which directly reflect from registered member institutions. It also has prime segments such as Commercial Bureau and Consumer Bureau, the latter keeps the credit records of people and the former maintains credit records belonging to companies/institutions.

Shareholding Pattern

CIBIL has a certain clout in the Indian financial system. It comprises of vast ownership structure and has popular banking and non-banking firms associated as major stakeholders. The most essential is TransUnion International Inc. It is a data analytics company, which helps businesses in taking decisions to manage risks. And has 66% stake hold in CIBIL.

TransUnion International Inc is also into information management. The rest 34% of shares is distributed in 8 parties (ICICI Bank Ltd 6%, Bank of India 5%, Bank of Baroda 5%, Union Bank of India 5%, Indian Overseas Bank 5%, Aditya Birla Trustee Co. Pvt. Ltd 4%, India Infoline Finance Ltd. 1%, and India Alternatives Pvt. Equity Fund 2.9%), that have stakes between 1% and 6%.

CIBIL gives credit scores and reports to those that ask/enquire for it. This includes institutions, lenders, and individuals requiring their own credit report or score. Lenders check the credit score of applicant when they are approached for credit lending by individuals. A score of 750 and higher is noted as a good score for disbursing monetary aids.

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