CIBIL to share credit info reports with corporates

Jul 07 2011, 11:11 IST
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Summary“As of today, CIBIL shared data regarding a company’s financial history with banks which helped latter assessing the risk associated with a company before lending.

After sharing data regarding a company’s financial history on loans drawn earlier and repayment history with banks, Credit Information Bureau India (CIBIL) will even help the companies access the system data before they go for raising a loan or other financial dealings.

“As of today, CIBIL shared data regarding a company’s financial history with banks which helped latter assessing the risk associated with a company before lending. But now, even companies will be able to see the same data so that they can present the case well, challenge anomalies, etc. If not getting a lower interest rate, this will definitely result in enhancement of loan limits,” CIBIL’s managing director Arun Thukral told reporters while launching Credit Information Reports for companies here.

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