What is CIBIL™? - Barrington, IL

Saturday, 30 October 2021

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City: Barrington, Illinois
Offer type: Offer

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Credit Information Bureau (India) Limited, commonly known as CIBIL™, is India’s first Credit Information Company or Credit Bureau. It maintains records of all credit-related activity of individuals and companies including loans and credit cards The records are submitted to CIBIL™ by registered member banks and other financial institutions on a periodic (usually monthly) basis. Based on this data, CIBIL™ issues a Credit Information Report or CIR (commonly referred to as a credit report) and a credit score.

CIBIL™ has two focus areas: A Consumer Bureau that deals with consumer credit records and a Commercial Bureau that deals with the records of companies and institutions.

It is important to note that CIBIL™ is a database of credit information. It does not make any lending decisions. It provides data to banks and other lenders who use it as a quick and efficient resource to filter loan applications.

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