Know Credit Bureaus

In India, Credit score is generally considered as CIBIL Score and credit report as CIBIL Report but CIBIL is credit bureau and besides this, there are 3 more credit bureaus are available in India which provide credit report and credit score. Apoorvaa can help you with pulling the credit report from all 4 credit bureaus TransUnion CIBIL, Equifax, Experian and CRIF High Mark. Let’s understand what they do and work. All 4 credit bureaus are a kind of data bank for the banking industry that collects information from various sources and provides consumer credit information on individual consumers and business consumers for a variety of uses. Credit Bureaus keep comprehensive credit information, which provides details pertaining to credit facilities already availed of by a borrower as well as his payment track record. It is an organization that provides information on an individual’s borrowing-paying habits. This helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan. In India, Credit Bureaus are licensed and regulated by the Reserve Bank of India(RBI) and are empowered under the Credit Information Companies(Regulations) Act 2005. Connect to Apoorvaa to know what your credit report and credit score tell you.