CIBIL which remains for Credit Information Bureau (India) Limited, is an ISO 27001:2005 organization. A first of its kind, it is India’s chief Credit Information Company (CIC). Established in the year 2000, it has set up itself as a key member of the Indian money related framework. The organization records credit-related data of people as presented by enrolled part foundations. CIBIL works in relationship with TransUnion International Inc. what’s more, Dun and Bradstreet.
CIBIL has two noteworthy fragments viz. the Consumer Bureau and the Commercial Bureau. The Consumer Bureau keeps up credit records of people while the Commercial Bureau keeps up credit records of establishments/organizations
CIBIL Shareholding Pattern
As India’s leading CIC (Credit Information Company), CIBIL enjoys considerable clout in the Indian credit system. But who makes up this prestigious institution?
CIBIL has a diverse ownership structure consisting of well-known banking and non-banking companies. Its major stakeholder is Trans Union International Inc. with about 66% of the total share. The remaining 34% is held by 8 other parties with stakes ranging between 1% to 6% each.
TransUnion deals in data analytics to help businesses in decision processes for better risk management. It is also a leader in information management.
| CIBIL Shareholders | |
| Trans Union Interantional Inc. | 66% |
| ICICI Bank Ltd. | 6% |
| Bank of Baroda | 5% |
| Bank of India | 5% |
| Indian Overseas Bank | 5% |
| Union Bank of India | 5% |
| Aditya Birla Trustee Co. Pvt. Ltd. | 4% |
| India Alternatives Pvt. Equity Fund | 2.9% |
| India Infoline Finance Ltd. | 1% |
A person’s or organization’s record as a consumer is assessed to create a Credit Information Report (CIR) from which is determined a financial assessment known as the CIBIL TransUnion Score. This report and score shape a fundamental piece of a loan specialist’s credit endorsement process. Financial assessments extend in the vicinity of 300 and 900. The higher the score, the more trustworthy the borrower is, which means snappy endorsements and better financing costs.
CIBIL gives credit reports and scores to the individuals who ask for them. This incorporates people, establishments and loan specialists. At the point when an application for an advance or Mastercard is submitted, moneylenders check the candidate’s financial assessments to find out whether it fulfills qualification criteria. When all is said in done, a score of 750 or higher is viewed as great.
Know More in CIBIL:
- CIBIL ScoreA numeric score, released by CIBIL, indicating an individual’s creditworthiness. It is calculated based on credit data collected from member financial institutions that have extended credit to individuals in the form of loans or credit cards. Higher the score, stronger the individual’s creditworthiness. CIBIL scores a.k.a. credit scores are widely used as a key parameter when determining a borrower’s eligibility for a loan or credit card.
- CIBIL ReportA comprehensive report compiling an individual’s credit information, sourced by CIBIL from various member lending financial institutions viz. banks and credit card issuers. A CIBIL report a.k.a. credit report contains pertinent information about an individual’s borrowing history and repayment patterns including delays and defaults. This report acts as a key source of credit information to assess a borrower’s creditworthiness. Information in this report helps an individual understand how his/her credit score has been affected.
- Factors that affect CIBIL ScoresCIBIL scores are determined based on a number of factors including how often and regularly you service debt obligations.
- Top CIBIL Improvement FactorsDogged by a bad credit report or credit score? Mediocre credit ratings have your bank officers on edge about how much they ought to lend you?
- Facts about CIBIL scores do you think CIBIL scores are just an elaborate government ploy to get you to pay your credit card bills on time? Does your mom worry that the neighbor’s son has a better credit score than you? Get the real deal on CIBIL scores and what they mean to you with these important facts about credit scores.
- FAQs: CIBIL/Credit ScoreDid you know….For all those questions left unanswered and more, we list out the most popular questions about CIBIL, credit ratings, reports and scores.
- Factors that affect CIBIL scoresWhat goes into the making of a good CIBIL score? In this segment, we deconstruct a credit score to find out what you should or should not do to get a good credit score.
- Good habits for a good CIBIL scoreCIBIL reports are built over a period of time and so also your score. A good credit rating is a reflection of your credit habits. What are good credit habits? Read on to know what you should be doing for a good CIBIL rating?
- Mistakes that can negatively impact your CIBIL scoreYou might get your cheque in the box just in time to clear a payment due on your loan or credit card, but paying your bills isn’t the only way to stay in CIBIL’s good books. Get the inside scoop on the mistakes you should avoid to keep your credit score from going bad.
- Hidden facts about CIBIL scoresKnowing your credit report is great; but when it comes to CIBIL, there’s more than meets the score. Get the dope on the lesser known facts about credit scores including how they are computed and what really gets your CIBIL report going.
- CIBIL score for Home LoanThe right credit score will make you feel right at home at any bank. Home loans are often high quantum, long-term loans that make lenders wary about whose homes they’re financing. What CIBIL score should you have to impress your bank for the most affordable housing loan?
- CIBIL score for Personal LoanNothing personal about your creditworthiness when it comes to taking out a personal loan. Being an unsecured loan, you’ll want to have your credit score in just the right range to make sure you get your bank to fund you instantly. How high should your credit score be to get the best personal loan in town?
- CIBIL score for Car LoanFuel your dream ride with a range of car loans that suit your pocket. Walk in with a good CIBIL score and drive away with a new set of wheels.
- CIBIL MythsIf you think CIBIL is a secret service agency that runs an underground operation of loan and credit card dealers, think again!
- What’s next for CIBILGetting a loan or a credit card? Let’s talk CIBIL. Like ‘em or love ‘em, CIBIL is definitely here to stay and is getting bigger. Credit assessment is finding new applications in India’s diverse financial system.
- Solutions to your CIBIL credit report problems What’s a model borrower like you doing with a bad credit report? Maybe your bank forgot to record a payment or they got your payment dates wrong.
- CIBIL / Credit Report ChecklistHow is a credit report built at CIBIL? What are the key points to look out for when reading a CIBIL credit report?
- CIBIL Score vs. CIBIL ReportA CIBIL score is a numeric representation of your creditworthiness based on information contained in your report. A CIBIL report is a comprehensive record of your credit transactions based on your credit history.
Tips to Improve Your Credit Score
Maintaining a good Credit Score is very important. Let’s give you some ways to improve your Credit Score. Follow these tips and you’re on the right track.
Be Regular With Bill Payments
Start paying those bills on time and your Credit Score will gradually improve.
Foot The Entire Bill
Paying only the minimum amount due on your Credit Card is not a good idea. Pay the full bill.
Increase Your Credit Limit
If you have a lower credit limit and still max out your Credit Card, that hurts your Credit Score. Boost your Credit Limit and use a lower limit. That’s better.
Foreclosing Loans? Not A Good Idea
If you think making a lump-sum payment on your loan will boost your Credit Score, think again. Pay your EMIs on time to show that you have a good repayment history. Ready to improve your Credit Score? Let’s get you started by getting you the perfect Credit Card.
