All Credit Information Companies
Issue of comprehensive Credit
Please refer to para (v) of
Annex IV to our circular
DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014 advising
Credit Information Companies (CICs) to include information on all accounts,
both current and past, of a customer having multiple borrowings, in her/his
Credit Information Report (CIR).
2. It is observed, however, that
some CICs are following the practice of offering limited versions of CIRs
to Credit Institutions (CIs) based on credit information available in
specific modules such as commercial data, consumer data or MFI data.
Accordingly, CICs are charging differential rates for such specific
3. As the limited versions of
CIRs based on the credit information on a borrower available in a specific
module capture only the credit information of the borrower available in the
particular module, the lenders may remain unaware of the entire credit
history of the borrower, if any, available in other modules. This can
adversely affect the quality of credit decisions of the CIs.
4. CICs are, therefore, directed
to ensure that the CIR in respect of a borrower, furnished to the CI,
incorporates all the credit information available in all modules, e.g. consumer,
commercial and MFI, etc., in respect of the borrower.
5. These directions are issued
under sub-section (1) of Section 11 of the Credit Information Companies
(Regulation) Act, 2005.
Chief General Manager