Latest news with #TransUnionCIBIL
Mint
30-07-2025
- Business
- Mint
How to check your free CIBIL, Equifax, Experian, and CRIF credit reports online?
Every individual in the country is entitled to one free credit report every year from each of the four leading credit bureaus, according to the Reserve Bank of India guidelines. The four bureaus are TransUnion CIBIL, CRIF High Mark, Equifax, and Experian. Here is a step-by-step guide that will assist aspirational individuals in procuring their free credit report directly from the official website of the above-mentioned credit bureaus. Visit the TransUnion CIBIL website: and register using your name, PAN, date of birth, mobile number, and a valid email address. Complete identity verification using the OTP sent to your registered contact to access and download your free credit report. This free report is available only once every 12 months from the date of your last request. Visit the Equifax website: and create an account by providing details such as PAN, address, mobile number, and a working email ID. After successful identity verification, your free credit report will be generated online. Further, you can also request a credit report offline by mailing a properly filled credit report request form with ID and address proof to the credit bureau. Keep in mind that on similar to CIBIL, you are entitled to one free credit report every 12 months. Reach out to the website at and enter your basic details such as PAN, Aadhaar, mobile number, and a working email ID to initiate the process. Verify your identity by using the OTP, i.e., one-time password sent to your registered mobile number, to access your credit report. Experian, like the other credit bureaus, provides one free credit report every year, i.e., every 12 months. You can view, download, and save this report for your records. First, visit the CRIF High Mark website at and complete the registration process by submitting the form with details such as PAN, Aadhaar, address, email ID, and mobile number. Authenticate your identity through the OTP sent to your registered mobile number to proceed. This will help in making sure that the report is downloaded by you, i.e., the concerned person only. Once the process of verification is complete, you can download your free annual credit report in PDF format for future reference. Therefore, do keep in mind to always use the official portals of each credit bureau for maximum data security and privacy. Furthermore, checking and downloading your credit report is a 'soft inquiry' and it does not negatively influence the credit score. On the contrary, reviewing your credit report consistently helps in detecting inaccuracies and mistakes. It also helps in reducing fraud risk and helps in maintaining appropriate financial health. Finally, in case you face any doubts with regards to the entire process of obtaining your free credit report, you can also reach out to the customer service team of the above-mentioned credit bureaus. This can be done through their official websites under the customer grievance section. For all personal finance updates, visit here. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Time of India
17-07-2025
- Business
- Time of India
Your credit score may fail you, even if you've played by the rules
A three-digit number between 300 and 900 holds disproportionate power over Indian lives today. It can decide if you get a home loan, a credit card, a job, or even access to the healthcare provider of your choice. The catch? It's often wildly inaccurate, difficult to contest, and largely beyond your control. Credit scores, designed to measure how risky you are as a borrower, are compiled by four credit information bureaus (CIBs) in India: TransUnion CIBIL , Experian, Equifax, and CRIF High Mark. They crunch data based on your credit history, things like repayment track record, the amount of credit you use, how long you've used it, and your credit mix. Explore courses from Top Institutes in Select a Course Category PGDM Digital Marketing Data Science Degree healthcare Cybersecurity Project Management Management Leadership Data Analytics Finance Data Science Technology MBA others Healthcare Design Thinking MCA Others Product Management Artificial Intelligence Public Policy CXO Operations Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details But here's the thing: as more people interact with the system, many are discovering just how little they understand, or can influence, the score that shapes critical parts of their financial and professional life. And worse, how opaque and error-ridden the system really is. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo From loans to jobs to hospitals Credit scores were once used only by banks. That's changing. Employers now use them to judge reliability. So do landlords. Some service providers might soon follow. In Switzerland, for instance, dentists routinely check uninsured patients' scores before offering treatment. That future might not be far off in India. At the same time, complaints are piling up, about phantom loans, unexplained dips in scores, and dispute processes that drag on for months with no resolution. A Bengaluru court recently awarded ₹1 lakh in damages to a consumer after delays in fixing an erroneous score. But that's an exception. Most people have little recourse. Live Events One such case: S Mukherjee, who says a ₹50 late fee, wrongly charged and contested, lingered on his record for over a decade, eventually tanking a home loan application. He paid ₹900 to make the issue go away and bring his CIBIL score back up. Inside a black box Credit bureaus insist the problem isn't with them, but with the data they get from lenders. 'The data in credit reports is provided to us by credit institutions,' says Bhavesh Jain, MD & CEO of TransUnion CIBIL. 'Updates or corrections can only be made after the institution concerned validates and confirms the change. Credit bureaus are not authorised to make any changes independently.' That's cold comfort for users stuck in bureaucratic ping-pong. Member of Parliament Karti Chidambaram recently flagged this in Parliament, saying the system needs deep reform. 'There must be greater transparency,' he said. 'The government has missed out on an opportunity to make life easier by reforming these things instead of tinkering in the margins.' TransUnion CIBIL bears the brunt of the backlash, in part because it dominates the Indian market and is often the only bureau consumers have heard of. But the underlying issue is industry-wide. What the RBI is trying to fix Since January, the Reserve Bank of India has tried to improve things. It now requires lenders to update credit records every 15 days instead of monthly, with penalties for delays. This, Jain says, should lead to quicker dispute resolution . Others are upgrading their systems too. Ramkumar Gunasekaran of CRIF High Mark says his bureau has added a new system for tracking disputes, and that complaints have fallen slightly over the past three months. But he admits it's too early to say whether that's because of RBI's changes or just coincidence. Still, the structure of the system remains flawed. Bureaus are entirely dependent on what lenders tell them. Algorithms aren't publicly explained. And while consumers have the right to file disputes, most don't know how, or even that they can. Poor score? Blame the system, not yourself The consequences go well beyond missed loans. A Madras High Court ruling recently backed SBI's decision to revoke a job offer based on poor credit history, saying financial discipline is a valid criterion for employment. That's despite the fact that credit scores are not actually comprehensive indicators of financial health. 'They do not account for income stability, savings, or asset ownership,' says Manish Jain, MD & CEO of Experian. In fact, even the wealthy can get caught out. Zerodha founder Nithin Kamath recently shared that his score was below 750, despite being a billionaire. Credit monitoring is on the rise, especially among younger consumers. Experian says monitoring activity rose 51% in FY24. The bureau has added more access points for dispute resolution and made its escalation process more transparent, Jain says. Meanwhile, RBI is exploring a unique borrower ID system to reduce identity mismatches. Experian says it already uses 'rigorous validation rules' for all submitted data. But fundamentally, we're still dealing with a powerful scoring system built on imperfect information and limited accountability. Bureaus say they want to build more inclusive models. But that will take more than intention—it'll take structural change. A broken system, a decades-long nightmare One professional, who asked not to be named, summed up the dysfunction in a personal account: 'In 2002, I got a credit card that promised zero commission at petrol pumps. That turned out to be false, so I paid off the dues and stopped using it. A year later, I started getting calls saying I hadn't paid. A charge under ₹100 had ballooned to over ₹1,000. No one could explain why. For 23 years, I've had over 1,000 calls asking me to clear it. Not once was I shown proof of default. CIBIL never informed me of the downgrade. I've had multiple credit cards, taken two home loans—always paid on time. Still, the CIBIL issue pops up. Once, an HDFC loan officer said: 'Don't worry, we ignore such downgrades.' That's how arbitrary this system is.' With inputs from TOI
Time of India
04-07-2025
- Business
- Time of India
RBI looks to ensure uniformity in credit bureau data quality
New Delhi: The banking regulator is examining suggestions to further streamline credit bureau processes and reduce information asymmetry with lenders, a move aimed at addressing data inconsistency and transparency for customers, said people familiar with the development. "A technical working group has been formed by the RBI (Reserve Bank of India) to address concerns raised by financial institutions related to credit information companies (CICs)," said an executive, who did not wish to be identified. A senior public sector bank executive said the four CICs - TransUnion Credit Information Bureau (India) Limited (TransUnion CIBIL), Equifax, Experian and CRIF High Mark - have given some suggestions to the RBI to ensure data uniformity and also to set up a common grievance redressal portal. "There is a need for some more common standards among CICs so that there is a uniformity relating to data quality index (DQI), and also for looking into the records of inactive or written-off customers," the executive said, adding that a single-window platform for data submission can also be explored. Queries emailed to the RBI did not elicit a response till press time. The RBI has extended the alternative grievance redressal mechanism under the Reserve Bank-Integrated Ombudsman Scheme, 2021 to cover grievances against CICs. Earlier this week, RBI deputy governor M Rajeshwar Rao said a key challenge is identity standardisation and that CICs rely on credit institutions to provide accurate and validated IDs. "There is a need to move towards a unique borrower identifier , which is secure, verifiable and consistent across the system," he said, addressing the TransUnion CIBIL's Credit Conference in Mumbai. The RBI has been taking up with CICs the issue of quick disposal of complaints raised against them. In 2023 it had mandated that complainants are entitled to compensation of ₹100 per day if their complaint is unresolved within 30 days from the initial filing. The RBI deputy governor, in his speech, also said that CICs must aspire to more frequent updates of credit data, as against the current fortnightly interval. Economic Times WhatsApp channel )
Business Standard
04-07-2025
- Business
- Business Standard
Empowering India's Credit Evolution: TransUnion CIBIL Credit Conference 2025 Explores Inclusive Finance and Economic Empowerment
BusinessWire India Mumbai (Maharashtra) [India], July 4: As India's credit growth reaches new segments and geographies, the focus is shifting towards enabling access to financial services supported by data-driven insights, transparency, and informed risk management. This transformation, along with collaborating to extend financial inclusion in India, saw industry leaders, policymakers, and innovators convene at the TransUnion CIBIL Credit Conference 2025 to explore how data, trust, and collaboration in the financial ecosystem are reshaping the way India lends, borrows, and builds resilience. From veteran bankers and fintech pioneers to policy architects and development finance experts, the event spotlighted voices shaping the future of India's credit lending ecosystem. Underpinning the conference was a celebration of the growth of India's credit landscape over the last 25 years, during which TransUnion CIBIL has played a pivotal role in this evolution through data, scale, and reach. Some of the most impactful outcomes of India's evolving credit landscape include: -Over 714 million individuals have gained access to formal credit, positively impacting households across the country, over the past two decades -1,036 million consumer loans have been facilitated, including 52 million housing loans and six million education loans, in the last 25 years -118 million women consumers in the last 10 years have entered the credit mainstream for the first time, unlocking opportunities that were previously unavailable to them -34 million MSME loans have been disbursed in the past 25 years, powering the growth of India's future -Since 2004, more than 3,172 million credit reports issued by TransUnion CIBIL have helped more than 4,000+ financial institutions make better-informed lending decisions -Retail delinquencies (balance-level, at 90 days or more past due) have improved by 130 bps in the last 10 years Speaking at the conference, Mr. M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India, said, "Credit reporting and TransUnion CIBIL have grown together in India and the company has made a significant contribution in expanding the footprint of credit reporting in the country. Credit reporting systems today operate as a key element in the national financial architecture, encouraging greater credit access, supporting financial inclusion, enabling effective supervision, and enhancing financial stability. This silver jubilee therefore, also represents a significant milestone in TransUnion CIBIL's ongoing contribution to strengthening this framework. This also gives us an occasion to reflect on how the information gap between the credit institutions and the borrowers has been addressed over time and the possible way ahead." Additionally, the Deputy Governor, said, "At the heart of a sustainable credit landscape lies an empowered consumer which is enabled when we have a financially aware and literate customer. While regulations mandate transparency and awareness, the responsibility needs to be fulfilled by all of us. Financial literacy cannot be achieved through a one-time campaign; it has to be a sustained commitment for all the institutions and entities involved. The setting up of Credit Information Companies was in one sense the starting point of this journey of financial inclusion and democratisation of credit. Even as the journey continues, the role of the CICs remains integral and important in realizing the vision of total financial Inclusion." Mr. Bhavesh Jain, MD & CEO, TransUnion CIBIL, said, "India's credit ecosystem is becoming more inclusive, transparent, and future-ready. Reliable data empowers lenders to take strategically informed decisions which in turn support borrowers in building and strengthening their financial profiles. Our focus remains to enable all stakeholders to navigate this transformation responsibly and sustainably." Mr. Deepak Parekh, Former Chairman, HDFC Limited, said, "One needs to position the role of a credit bureau as one that protects the customer, works for the customer, and helps prevent the customer from getting into financial difficulties. The credit score is like a medical report--and based on the report, one is diagnosed, if required. It is true when experts say that the credit score is the mirror of one's credit behaviour. Checking it regularly is like monitoring blood pressure or cholesterol levels--a preventive financial health measure we must all adopt. Trust, and only trust, remains the most critical aspect of financial services. Customer centricity is the only differentiator among credit bureaus." Mr. Amitabh Chaudhry, MD & CEO, Axis Bank, said, "We must invest in financial literacy, helping borrowers understand credit health and long-term financial planning. This is not just a regulatory obligation, it is a moral imperative if we want to build a Viksit Bharat. Banks, bureaus, fintechs, and regulators must work together to harvest alternate data, build smarter risk tools, and create credit systems that say 'yes' more often, responsibly, creatively, and at the speed of India's aspirations." Mr. K V Kamath, Chairman, Jio Financial Services Limited, said, "As India moves from a $4 trillion to an $8 trillion economy, the task ahead won't just double, it will expand exponentially. With a rapidly growing aspirational class and the rise of new technologies like AI, the demand for trusted, curated data will become even more critical. This marks the beginning of a new chapter for TransUnion CIBIL, one that's closely tied to India's next wave of growth," The CIBIL Score continues to play a key role in how creditworthiness is evaluated by banks, NBFCs, and FinTechs. To enhance market transparency, at the conference TransUnion CIBIL shared deeper insights from the latest Credit Market Indicator (CMI) Report, an essential resource for lenders, economists, and policymakers to monitor credit trends in retail lending. The conference devoted special attention to one of India's key drivers for growth, the MSME sector. An MSME Day special edition of the MSME Pulse Report was shared, giving in-depth insights on credit participation and sectoral performance. The recently launched CreditVision® CIBIL Commercial Rank (CV CMR), complementary to the Company Credit Report (CCR), was also introduced. These tools help assess credit behavior across enterprises, improving underwriting accuracy and deepening access to finance for MSMEs. The conference concluded with a shared vision for building a financially confident and credit-aware India. Speakers emphasized the need to strengthen creditworthiness across a broader borrower base through improved data access, financial literacy, and ecosystem-wide collaboration. "As India progresses towards the goals outlined in Bharat@2047, expanding the credit-ready population, especially in semi-urban and rural regions, will be instrumental in unlocking economic growth," said Jain. "By enabling lenders to better assess risk and empowering individuals and small businesses to build and improve their credit profiles, TransUnion CIBIL's insights continue to play a catalytic role in putting more capital in the hands of individuals and small businesses. A more inclusive credit ecosystem is not only vital for economic progress, but also foundational to a future where opportunity reaches every corner of the country." The conference commenced with the traditional lighting of the diya, symbolizing knowledge, progress, and a shared commitment to inclusive financial growth. The ceremony was led by Chris Cartwright, CEO, TransUnion; Venkataramanan Anantharaman, Chairman, TransUnion CIBIL; Ketaki Bhagwati, Independent Director, TransUnion CIBIL; Sanjay Prasad, Independent Director, TransUnion CIBIL; Todd Skinner, President - International, TransUnion; and N.S. Kannan, Independent Director, in the presence of industry leaders and stakeholders.
The Wire
04-07-2025
- Business
- The Wire
Empowering India's Credit Evolution: TransUnion CIBIL Credit Conference 2025 Explores Inclusive Finance and Economic Empowerment
Mumbai, Maharashtra, India – Business Wire India • Credit Conference 2025 designed to drive growth, financial inclusion, and ease of doing business in India • Leaders from banking, FinTech, and policy convened to discuss data-driven credit inclusion and the path to a credit-ready India • Expanding creditworthiness to support India's financial goals under the Bharat@2047 vision was a key theme As India's credit growth reaches new segments and geographies, the focus is shifting towards enabling access to financial services supported by data-driven insights, transparency, and informed risk management. This transformation, along with collaborating to extend financial inclusion in India, saw industry leaders, policymakers, and innovators convene at the TransUnion CIBIL Credit Conference 2025 to explore how data, trust, and collaboration in the financial ecosystem are reshaping the way India lends, borrows, and builds resilience. From veteran bankers and fintech pioneers to policy architects and development finance experts, the event spotlighted voices shaping the future of India's credit lending ecosystem. Underpinning the conference was a celebration of the growth of India's credit landscape over the last 25 years, during which TransUnion CIBIL has played a pivotal role in this evolution through data, scale, and reach. Some of the most impactful outcomes of India's evolving credit landscape include: • Over 714 million individuals have gained access to formal credit, positively impacting households across the country, over the past two decades • 1,036 million consumer loans have been facilitated, including 52 million housing loans and six million education loans, in the last 25 years • 118 million women consumers in the last 10 years have entered the credit mainstream for the first time, unlocking opportunities that were previously unavailable to them • 34 million MSME loans have been disbursed in the past 25 years, powering the growth of India's future • Since 2004, more than 3,172 million credit reports issued by TransUnion CIBIL have helped more than 4,000 financial institutions make better-informed lending decisions • Retail delinquencies (balance-level, at 90 days or more past due) have improved by 130 bps in the last 10 years Speaking at the conference, Mr. M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India, said, 'Credit reporting and TransUnion CIBIL have grown together in India and the company has made a significant contribution in expanding the footprint of credit reporting in the country. Credit reporting systems today operate as a key element in the national financial architecture, encouraging greater credit access, supporting financial inclusion, enabling effective supervision, and enhancing financial stability. This silver jubilee therefore, also represents a significant milestone in TransUnion CIBIL's ongoing contribution to strengthening this framework. This also gives us an occasion to reflect on how the information gap between the credit institutions and the borrowers has been addressed over time and the possible way ahead.' Additionally, the Deputy Governor, said, 'At the heart of a sustainable credit landscape lies an empowered consumer which is enabled when we have a financially aware and literate customer. While regulations mandate transparency and awareness, the responsibility needs to be fulfilled by all of us. Financial literacy cannot be achieved through a one-time campaign; it has to be a sustained commitment for all the institutions and entities involved. The setting up of Credit Information Companies was in one sense the starting point of this journey of financial inclusion and democratisation of credit. Even as the journey continues, the role of the CICs remains integral and important in realizing the vision of total financial Inclusion.' Mr. Bhavesh Jain, MD & CEO, TransUnion CIBIL, said, 'India's credit ecosystem is becoming more inclusive, transparent, and future-ready. Reliable data empowers lenders to take strategically informed decisions which in turn support borrowers in building and strengthening their financial profiles. Our focus remains to enable all stakeholders to navigate this transformation responsibly and sustainably.' Mr. Deepak Parekh, Former Chairman, HDFC Limited, said, 'One needs to position the role of a credit bureau as one that protects the customer, works for the customer, and helps prevent the customer from getting into financial difficulties. The credit score is like a medical report—and based on the report, one is diagnosed, if required. It is true when experts say that the credit score is the mirror of one's credit behaviour. Checking it regularly is like monitoring blood pressure or cholesterol levels—a preventive financial health measure we must all adopt. Trust, and only trust, remains the most critical aspect of financial services. Customer centricity is the only differentiator among credit bureaus.' Mr. Amitabh Chaudhry, MD & CEO, Axis Bank, said, "We must invest in financial literacy, helping borrowers understand credit health and long-term financial planning. This is not just a regulatory obligation, it is a moral imperative if we want to build a Viksit Bharat. Banks, bureaus, fintechs, and regulators must work together to harvest alternate data, build smarter risk tools, and create credit systems that say 'yes' more often, responsibly, creatively, and at the speed of India's aspirations." Mr. K V Kamath, Chairman, Jio Financial Services Limited, said, "As India moves from a $4 trillion to an $8 trillion economy, the task ahead won't just double, it will expand exponentially. With a rapidly growing aspirational class and the rise of new technologies like AI, the demand for trusted, curated data will become even more critical. This marks the beginning of a new chapter for TransUnion CIBIL, one that's closely tied to India's next wave of growth,' The CIBIL Score continues to play a key role in how creditworthiness is evaluated by banks, NBFCs, and FinTechs. To enhance market transparency, at the conference TransUnion CIBIL shared deeper insights from the latest Credit Market Indicator (CMI) Report, an essential resource for lenders, economists, and policymakers to monitor credit trends in retail lending. The conference devoted special attention to one of India's key drivers for growth, the MSME sector. An MSME Day special edition of the MSME Pulse Report was shared, giving in-depth insights on credit participation and sectoral performance. The recently launched CreditVision® CIBIL Commercial Rank (CV CMR), complementary to the Company Credit Report (CCR), was also introduced. These tools help assess credit behavior across enterprises, improving underwriting accuracy and deepening access to finance for MSMEs. The conference concluded with a shared vision for building a financially confident and credit-aware India. Speakers emphasized the need to strengthen creditworthiness across a broader borrower base through improved data access, financial literacy, and ecosystem-wide collaboration. 'As India progresses towards the goals outlined in Bharat@2047, expanding the credit-ready population, especially in semi-urban and rural regions, will be instrumental in unlocking economic growth,' said Jain. 'By enabling lenders to better assess risk and empowering individuals and small businesses to build and improve their credit profiles, TransUnion CIBIL's insights continue to play a catalytic role in putting more capital in the hands of individuals and small businesses. A more inclusive credit ecosystem is not only vital for economic progress, but also foundational to a future where opportunity reaches every corner of the country.' The conference commenced with the traditional lighting of the diya, symbolizing knowledge, progress, and a shared commitment to inclusive financial growth. The ceremony was led by Chris Cartwright, CEO, TransUnion; Venkataramanan Anantharaman, Chairman, TransUnion CIBIL; Ketaki Bhagwati, Independent Director, TransUnion CIBIL; Sanjay Prasad, Independent Director, TransUnion CIBIL; Todd Skinner, President – International, TransUnion; and N.S. Kannan, Independent Director, in the presence of industry leaders and stakeholders. About TransUnion CIBIL India's pioneer information and insights company, TransUnion CIBIL, makes trust possible by ensuring each person and business entity is reliably represented in the marketplace. We do this by providing an actionable view of consumers and businesses, stewarded with care. We have developed technology and innovative solutions across core credit, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences, and personal empowerment for millions of people and MSMEs in India. We serve the financial sector as well as MSMEs and individual consumers. Our customers in India include banks, credit institutions, NBFCs, housing finance companies, microfinance companies, telecom companies and insurance firms. For more information visit To View the Image, Click on the Link Below: (L-R) Venkataramanan Anantharaman, Chairman, TransUnion CIBIL; Chris Cartwright, CEO, TransUnion; Ketaki Bhagwati, Independent Director, TransUnion CIBIL; Sanjay Prasad, Independent Director, TransUnion CIBIL; Todd Skinner, President – International, TransUnion; and N.S. Kannan, Independent Director. (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
