CREDIT INFORMATION BUREAU (INDIA) LTD. (CIBIL)
Introduction : With a view to developing an institutional mechanism for sharing of information on borrowers / potential borrowers among banks and financial institutions, the Credit Information Bureau (India) Ltd. (CIBIL) was formally launched on May 5, 2004, for collecting, processing and sharing credit information on the borrowers of credit institutions and serve as an effective mechanism for curbing the growth of Non-Performing Assets (NPAs). CIBIL is India's first credit information bureau. It is a repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its Members in the form of credit information reports. Promoters CIBIL's equity is held by State Bank of India, Housing Developing Finance Corporation Limited, Dun & Bradstreet Information Services India Private Limited and Trans Union International Inc. The shareholding pattern is in the proportion of 40 : 40 : 10 : 10 respectively. Coverage CIBIL is a composite Credit Bureau, which caters to both commercial and consumer segments. The consumer Credit Bureau covers credit availed by individuals while the Commercial Credit Bureau covers credit availed by non-individuals such as partnership firms, proprietary concerns, private and public limited companies, etc. Members of CIBIL Banks, Financial Institutions, State Financial Corporations, Non-Banking Financial Companies, Housing Finance Companies and Credit Card Companies are Members of CIBIL. Operations of CIBIL For credit grantors to gain a complete picture of the payment history of a credit applicant, they must be able to gain access to the applicant's complete credit record that may be spread over different institutions. CIBIL collects commercial and consumer credit-related data and collates such data to create and distribute credit reports to Members. Sources of Information CIBIL primarily gets information from its Members only and at a subsequent stage will supplement it with public domain information in order to create a truly comprehensive snapshot of an entity's financial track record. Type of Information Available CIBIL will be a world-class bureau dealing in both positive information such as total outstanding debts, loan repayment record, number of inquiries made on that borrower, by different members and negative information such as penalties, defaults, Suit-filed status etc. on all borrowal accounts. CIBIL is a composite Credit Bureau and will cater to both commercial and consumer segments. The Consumer Credit Bureau covers credit taken by individuals while the Commercial Credit Bureau will cover credit taken by non-individuals like partnership firms, proprietary concerns, private and public limited companies, etc. However, information will not be available for income / revenue details, amounts deposited with the bank, details of borrowers' assets, value of assets mortgaged, details of investments etc. CIBIL is maintaining a database on suit-filed accounts of Rs. 1 Crore and above and suit filed accounts (wilful defaulters) of Rs. 25 Lacs and above. This information is based on an application developed to enable the users to access data through a parameterized search process across banks and companies at various geographical locations. Suit-filed accounts of lower value are proposed to be covered in a phased manner. Limitation The CIBIL only provides available factual credit information and does not provide any opinion, indication or comment pertaining to whether credit should or should not be granted. The credit grantors who have received an application for credit will make the credit decision. CIBIL does not grant or deny credit.
doc_884757590.doc
Introduction : With a view to developing an institutional mechanism for sharing of information on borrowers / potential borrowers among banks and financial institutions, the Credit Information Bureau (India) Ltd. (CIBIL) was formally launched on May 5, 2004, for collecting, processing and sharing credit information on the borrowers of credit institutions and serve as an effective mechanism for curbing the growth of Non-Performing Assets (NPAs). CIBIL is India's first credit information bureau. It is a repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its Members in the form of credit information reports. Promoters CIBIL's equity is held by State Bank of India, Housing Developing Finance Corporation Limited, Dun & Bradstreet Information Services India Private Limited and Trans Union International Inc. The shareholding pattern is in the proportion of 40 : 40 : 10 : 10 respectively. Coverage CIBIL is a composite Credit Bureau, which caters to both commercial and consumer segments. The consumer Credit Bureau covers credit availed by individuals while the Commercial Credit Bureau covers credit availed by non-individuals such as partnership firms, proprietary concerns, private and public limited companies, etc. Members of CIBIL Banks, Financial Institutions, State Financial Corporations, Non-Banking Financial Companies, Housing Finance Companies and Credit Card Companies are Members of CIBIL. Operations of CIBIL For credit grantors to gain a complete picture of the payment history of a credit applicant, they must be able to gain access to the applicant's complete credit record that may be spread over different institutions. CIBIL collects commercial and consumer credit-related data and collates such data to create and distribute credit reports to Members. Sources of Information CIBIL primarily gets information from its Members only and at a subsequent stage will supplement it with public domain information in order to create a truly comprehensive snapshot of an entity's financial track record. Type of Information Available CIBIL will be a world-class bureau dealing in both positive information such as total outstanding debts, loan repayment record, number of inquiries made on that borrower, by different members and negative information such as penalties, defaults, Suit-filed status etc. on all borrowal accounts. CIBIL is a composite Credit Bureau and will cater to both commercial and consumer segments. The Consumer Credit Bureau covers credit taken by individuals while the Commercial Credit Bureau will cover credit taken by non-individuals like partnership firms, proprietary concerns, private and public limited companies, etc. However, information will not be available for income / revenue details, amounts deposited with the bank, details of borrowers' assets, value of assets mortgaged, details of investments etc. CIBIL is maintaining a database on suit-filed accounts of Rs. 1 Crore and above and suit filed accounts (wilful defaulters) of Rs. 25 Lacs and above. This information is based on an application developed to enable the users to access data through a parameterized search process across banks and companies at various geographical locations. Suit-filed accounts of lower value are proposed to be covered in a phased manner. Limitation The CIBIL only provides available factual credit information and does not provide any opinion, indication or comment pertaining to whether credit should or should not be granted. The credit grantors who have received an application for credit will make the credit decision. CIBIL does not grant or deny credit.
doc_884757590.doc