Which of the following organizations in India provides credit history of the borrowers?

a. CIBIL

b. CII

c. FRBI

d. IRDA

ANSWER: CIBIL

Explanation:

Credit Information Bureau Limited 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.

CIBIL

Founded : August 2000; 16 years ago

Headquarter : Mumbai, India

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

How it works?

The Credit Information Report (CIR) and CIBIL TransUnion Score are used in the loan approval process.

The CIR and Credit Score help loan providers identify consumers who are likely to be able to pay back their loans.

An individual with a credit score above 750 is perceived as a responsible borrower.