1. What exactly is TransUnion CIBIL? Exactly what does it do?
TransUnion CIBIL Limited is IndiaвЂ™s Credit that is first Information, additionally commonly called as being a Credit Bureau. We gather and keep maintaining documents of individualsвЂ™ and commercial entitiesвЂ™ re payments related to loans and bank cards. These documents are submitted to us by banking institutions as well as other loan providers on a basis that is monthly making use of this information a CIBIL get and Report for people is developed, which allows loan providers to judge and accept loan requests.
A Credit Bureau is licensed because of the RBI and governed by the Credit Information organizations (legislation) Act of 2005.Continue reading