Credit Counselling

022 4012 4545

Bootcamp center

10,000 people are
CreditVidya certified. Are you?
Visit Bootcamp Center


The seeds for the requirement of a credit information bureau were sown in the Credit Information Companies (regulation) act, 2005.  The Reserve Bank of India came out with regulatory framework for functioning of credit information bureaus in India 

Among the various credit bureaus in India, Credit Information Bureau (India) Limited (CIBIL) has the distinction of being the first entrant. It came into exied by CIBIL to prepare Credit Information Report of individuals and corporate entities. These credit information reports are provided to member lending institutions to evaluate and approve loan applications. Today, checking credit information report has become an inevitable step in the loan application process. Lenders prefer to lend money to borrowers with credit score of 700 and higher. Individuals too can ask for their credit information report from CIBIL by paying a small fee. The credit score of individuals through the credit reports was made available to individual since April 2011. 

These reports serve as strong facts-validating documents for banks. Banks and other lending institutions can take an objective view of loan application and this brings down the time taken in approval of loans, which in turn benefits borrowers. To make its consumer report effective, CIBIL is planning to incorporate more payment information - payments towards telephone bills and insurance premium. This additional information should make a report more detailed and present a clear picture to lenders as regards an individual payment habits.

CIBIL is owned by TransUnion International Inc, three non banking finance companies (NBFC) and 10 commercial banks in India. Transunion caters to 500 million customers worldwide. It is an ISO 27001:2005 certified (compliant) organisation. 

About Credit Vidya

We, at Credit Vidya, believe in empowering you. Because we believe that knowledge is not only power but also gives you a sense of belonging. We believe in supporting the consumers by not being their crutch but as catalysts and enablers.

Get FREE Updates

Filled with news, money-saving tips and financial how-tos to live your richest life.

Credit Tips

Make sure that all deals and offers agreed upon are supported by relevant papers. You should always ask for a letter in a banks letter-head mentioning the likes of, exact rate of interests, processing fees, pre-payment charges along with interest-schedule.

Read more tips

Success Stories

Dr. K. S. Sobhana

Dr. Sobhana, a Senior Scientist with Central Marine Fisheries Research Institute, was having trouble with her auto loan because of her CIBIL report. She spoke to one of our Credit Experts and ...

More Success stories