Information relating to nature and amount of

• Funded credit facilities

• Non-funded credit facilities

• Security/collateral for the credit facilities and

• Antecedents and credit history of borrower

India's first Credit Information Bureau formed on the basis of recommendations of a Working Group constituted by RBI

• to establish a world class bureau in India

• as a private sector, technology driven service provider

1. SBI - 40%

2. HDFC - 40%

3. Dun & Bradstreet - 10%

4. Trans Union - 10%

1. Banks and Financial Institutions

2. State Financial Corporations

3. Non-Banking Financial Companies

4. Housing Finance Companies

5. Credit Card Companies

To make available to its Members:

• Complete and reliable Credit Information

In the form of reports on borrowers

• Individuals or

• businesses

From a centralised database- As a neutral service provider CIBIL intends to be a world class bureau dealing with:

• Commercial and consumer credit information

• Negative and positive information

• Will flag potential delinquencies

• Will increase penetration

• Will enhance business volumes

• Will aid positive credit decisions

A Bureau operating on the basis of negative data suffers from serious limitation - a blank report could mean:

• the subject has not defaulted

• the subject has not borrowed at all

To assist CIBIL on:

• Inter-institutional coverage and operational issues relating to credit information

• To serve as a bridge between CIBIL & its Members

• Full data (Positive & Negative) from HFCs, NBFCs and CCCs

• Data in stages from Banks and FIs

• Firstly, data on suit-filed accounts

• Simultaneously per RBI directions, customer consent will be obtained by Credit Grantors in stages starting with larger accounts

• To be the trusted partner of every credit grantor in India in every credit decision.

• Credit Grantors must perceive value in the credit report

• Credit report should become a "must" for first level due diligence.

• A good, acceptable credit history should become an essential pre-requisite before credit appraisal process starts

• Development of credit- related products like:

  • Credit Scoring, Default Probability models etc.

  • Track and Alert Products

• A source of Macro-economic Information - Offer services to:

  • Life Insurance Industry

  • General Insurance Industry

  • Utilities such as:

    (i)Telecom
    (ii)Electricity
    (iii)Water supply

[source - Website -http://www.ficci.com/ficci/sep-bank-cibil.ppt ]