What is CIBIL? How does it works?
CIBIL full form is Credit Information Bureau of India Limited. CIBIL is the india’s first credit information bureau maintains the borrower’s history. Whenever a person applies for new loans or credit card(s) to a financial institution, they generate the CIBIL report of the said person or concern to judge the credit worthiness of the person and also to verify their existing track record.
Credit Information Bureau Limited (CIBIL) is India’s first Credit Information Company (CIC) founded in August 2000. CIBIL collects and maintains records of an individual’s payments of loans and credit cards.
