TransUnion CIBIL Limited is IndiaвЂ™s first Credit Information Company, additionally commonly called as a Credit Bureau. We gather and keep documents of individualsвЂ™ and commercial entitiesвЂ™ payments regarding loans and charge cards. These documents are submitted to us by banking institutions along with other lenders on a month-to-month foundation; making use of this information a CIBIL get and Report for folks is developed, which allows loan providers to gauge and accept loan requests.
A Credit Bureau is certified by the RBI and governed by the Credit Information businesses (legislation) Act of 2005.
2. How come my CIBIL rating crucial to get my loan sanctioned?
The CIBIL rating plays a role that is critical the loan application procedure. The lender first checks the CIBIL Score and Report of the applicant after an applicant fills out the application form and hands it over to the lender. If the CIBIL rating is low, the lending company may well not also look at the application further and reject it at that time. Read more