Question

What is the full form of CIBIL?

1. Central Information Bureau India Limited
2. Code Information Bureau India Limited
3. Credit Information Bureau India Limited
4. Commercial Information Bureau India Limited

Answer 1

Correct Answer - Option 3 : Credit Information Bureau India Limited

The correct answer is Credit Information Bureau India Limited.

Credit Information Bureau India Limited(CIBIL) is a credit information company.

• It is founded in year 2000 and its headquarter is in Mumbai, Maharashtra.
• It is established under Credit Information Companies (Regulation) Act, and authorised by RBI.
• Now it is known as TransUnion CIBIL as it is acquired by TransUnion (American consumer credit reporting agency) in 2016.

•  Other credit information company of India are CRIF High Mark, Equifax, and Experian.
• The function of credit information company is to collect data from different creditors and generate a report of a particular consumer, which is helpful for the lender to understand whether the particular consumer is how much trust worthy and he will return the loan