Home   >>    Loan   >>    Credit Card   >>     Overview
Get Credit Card Offers
A maximum of 5 providers will compete to give you the best rates (Dec 2016)

 

 

 

 
 
 
 
 
 

I authorize the website and its partner providers to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

Crisil plans to start credit information company

Crisil plans to enter retails credit segment

Apnaloan.com Research Bureau

06 Feb 2008


Credit rating agency Crisil plans to set up a credit information company(CIC) in association with Equifax Inc of the US and Tata Capital Ltd. The CIC will provide credit history and checks on retail borrowers. Equifax Inc is among the leading global credit information solutions companies in the world. Tata Capital is a non-banking finance company and a wholly-owned subsidiary of Tata Sons Ltd. Crisil has applied for permission from Reserve Bank of India (RBI) to start the CIC.

Ms Roopa Kudwa, Crisil's managing director and CEO said the business plans, investment pattern, and stake holding of the partners will be finalized on the basis of guidelines released by the RBI. The government has approved foreign direct investment (FDI) up to 49%, in credit information companies.

Crisil, which is already a credit rating company, provides ratings for large corporates, small and medium enterprises. Entering into the credit information business will help them to expand their footprint into the retail credit segment.

Today, only Credit Information Bureau of India (CIBIL) is a player in the retail credit segment. The retail finance market is estimated to grow by 20 per cent annually over the next five years, giving a perfect platform for Crisil to start the CIC.