What is a credit bureau?
A credit bureau is a company that gathers and examines information on a person’s or a company’s credit-related activity. These include the borrowing of loans and their repayments, as well as the usage of credit cards and overdraft facilities.
The information relating to income taxes, on-time utility bill payments, and other topics may also be included in this analysis. Lending firms, data gathering corporations, money collection companies, and other organizations provide the information for collection.
To develop a profile of a person’s creditworthiness that includes repayment behavior, default history, and overall financial behavior, such information must be gathered and analyzed.
List of Credit Bureaus in India
1. TransUnion Credit Information Bureau (India) Limited or CIBIL
2. Equifax
3. Experian
4. CRIF High Mark