Which of the following is India’s first Credit Information Company?

a. CRISIL

b. CIBIL

c. SMERA

d. CERSAI

ANSWER: CIBIL

Explanation:

Credit Information Bureau Limited (CIBIL) is the first Credit Information Company in India.

TransUnion CIBIL Limited (Formerly: Credit Information Bureau (India) Limited) is India’s first Credit Information Company (CIC) founded in August 2000.

It collect and maintain records of individuals’ and non-individuals’ (commercial entities) payments pertaining to loans and credit cards.

These records are submitted to credit bureau by banks and other lenders on a monthly basis; using this information a Credit Information Report (CIR) and Credit Score is developed, enabling lenders to evaluate and approve loan applications.

CIBIL was promoted by State Bank of India (SBI), Housing Development Finance Corporation (HDFC), Dun & Bradstreet Information Services India Private Limited (D&B) and TransUnion International Inc. (TransUnion).

CIBIL

Founded : August 2000; 16 years ago

Headquarter : Mumbai, India

Current Head : M.V. Nair (Chairman), Satish Pillai (Managing Director)