What changed
RBI granted CIBIL a Certificate of Registration to carry on the business of credit information, effective March 5, 2012. This is a formal regulatory approval under the relevant provisions.
What it means for you
Banks and financial institutions can now rely on CIBIL as a registered credit information company for credit assessment and risk management. This strengthens the credit information infrastructure, enabling better lending decisions and reducing information asymmetry.
What you must do
- Update your records to note CIBIL's registered status and its Mumbai address for official correspondence.
- Ensure your institution's credit reporting and data sharing practices comply with CIBIL's requirements as a registered entity.
- Leverage CIBIL's credit information services to enhance credit appraisal and monitoring processes.
Who it affects
All Scheduled Commercial Banks (excluding RRBs), All India Financial Institutions, Credit Information Bureau (India) Limited (CIBIL)
What does this registration mean for banks?
It means CIBIL is now formally authorized by RBI to provide credit information, so banks can use its data for credit decisions with regulatory backing.
Is this a new requirement or a renewal?
This is a grant of a Certificate of Registration, indicating formal approval for CIBIL to operate as a credit information company as of March 5, 2012.