1. Credit Information Bureau (I) Ltd was set -up in January 2001, as a joint venture.
2. 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.
3. CIBIL is established with a primary purpose of information sharing between Banks and Financial
Institutions for curbing the undesired growth of NPA.
Institutions for curbing the undesired growth of NPA.
4. Banks are required to provide periodical information to CIBIL in the prescribed format. It helps in
compilation of credit information, accessible to member banks to improve quality of credit proposals,
better credit management and Credit dissemination function
compilation of credit information, accessible to member banks to improve quality of credit proposals,
better credit management and Credit dissemination function
5. Banks, FIs, SFCs, NBFCs, Housing Finance Companies and Credit Card Companies are Members of CIBIL
6. CIBIL- Access to consumer credit information:
Branches will get data of existing standard Home Loan borrowers who have approached other Banks
for Home Loan, Personal Loan Auto Loan, Education Loan, Business Loan, Property Loan, Over Draft and Commercial Vehicle. In case of NPA Home Loan borrowers Branches will get information on enquires with other Banks for all type of loans.
0 comments:
Post a Comment