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About CIBIL Score
Credit Information Bureau India Limited (CIBIL) was incorporated in 2000 and its aim is to fulfill the need of credit granting institutions for comprehensive credit information by collecting, collating and disseminating credit information pertaining to both commercial
and consumer borrowers, to a closed user group of Members. Data sharing is based on the Principle of Reciprocity, which means that only Members who have submitted all their credit data, may access Credit Information Reports from CIBIL.
The CIBIL Score is India’s first generic score and has become the most trusted indicator for prudent decision making by credit grantors. With the CIBIL Score, the credit grantor can effectively predict the likelihood of an applicant becoming more than 91 days delinquent on one or more credit facilities over the subsequent 12 months.
CreditMantri counselors recommend that all individuals, at a minimum, obtain a copy of their credit report on an annual basis to view your CIBIL score. Reviewing and understanding your credit report, CIBIL Score and resolving credit issues in a timely manner can save you a lot of money and headaches.