CIBIL:Credit Information Bureau (India) Limited
Established in August 2000, CIBIL is the first credit information company in India. The company collects and maintains credit records of individuals as well as commercial entities pertaining to payments and borrowings related to loans and credit cards. CIBIL obtains this information with the help of its members of banks and credit institutions.
TransUnion CIBIL is India’s leading credit information company and maintains one of the largest collections of consumer information globally. We have over 5,000 members–including all leading banks, financial institutions, non-banking financial companies and housing finance companies–and maintain credit records of over 1000 million individuals and businesses. Our mission is to create information solutions that enable businesses to grow and give consumers faster, cheaper access to credit and other services.
We create value for our members by helping them manage risk and devise appropriate lending strategies to reduce costs and increase portfolio profitability. With comprehensive, reliable information on consumer and commercial borrowers, they are able to make sound credit decisions about individuals and businesses.
By collecting, analyzing, and delivering information on the credit histories of millions of borrowers, we empower our members to plan their strategies with greater prudence. We understand our customers’ evolving needs and create solutions that help them innovate and grow, simultaneously creating our own opportunities to reinvest and thrive.
Our initiatives have helped drive growth in lending over the last decade. We will continue to invest in content, insights, products and solutions across all sectors. We are also committed to being a partner in the national effort to improve financial literacy, inclusion and protection.
History
We aim to be more than just a credit reporting agency. We are a sophisticated, global risk information provider striving to use information for good.For consumers, we provide information and tools for gaining a clear understanding of their credit history and financial reputation, and guarding against the theft of personal information and potential fraud.
For businesses, we provide powerful information solutions, backed by professional service and current, comprehensive data, for making better, more informed decisions.
Here are the milestones of our journey so far:
2000:TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee.
2004:Credit bureau services are launched in India (Consumer Bureau).
2006:Commercial bureau operations commenced.
2007:CIBIL Score, India’s first generic risk scoring model for banks and financial institutions, was introduced.
2010:Two firsts for the credit industry in India with the launch of:
CIBIL Detect: India's first repository for information on high-risk activity.
CIBIL Mortgage Check: The first centralized database on mortgages in India.
2011:CIBIL TransUnion Score is made available to individual consumers.
2017:TransUnion acquired a 92.1% stake in CIBIL.
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