Hi, How are your services different from CIBIL? Are you adding some analysis to CIBIL report? Can it be considered as the function of CIC requiring RBI authorisation?
CreditMantri and CIBIL
CIBIL is a Credit Bureau or CIC i.e Credit Information Company and is governed by the CICRA Act. As a CIC, a credit bureau be it CIBIL, Equifax, Experian etc. gets data from lenders and provides a credit history and score for consumers. Lenders use this score and the information about the consumers credit history to make their lending decision. CreditMantri attempts to help individuals understand their credit profile and to help them make better credit decisions. The Free Credit health Check enables users to better understand their credit history and where they stand. The analysis we provide is meant to help consumers understand their credit report in a simple, easy to comprehend fashion. The aim to is help consumers who are not completely familiar with the various aspects of a credit report to develop an understanding of where they stand and based on this understanding take charge of their credit well being. Our offering has been built keeping in mind the existing regulatory framework and we have taken steps to ensure that the offering sits well within what is permitted. Should you require any further clarifications, do write to us at Care@creditmantri.com.