What is a CIBIL Credit Information Report (CIR)?

by Amandeep Singh

in Personal Finance

In this viral era of high spending, today everyone wants to have everything. Is there an actual need for that or not, that is a different story altogether. The irony of the situation is that today people spend much more than what their forefathers ever did.

Rising salaries, the desire to own a property in one’s early twenties, the choice of a huge variety of lifestyles, a growing economy, an ever-increasing number of entrepreneurs joining the race to do something new, new business establishments, etc. are leading to a tremendous amount of money flowing on all sides.

In such scenarios, money flow is a key factor in a progressive economy and this means there is a lot of lending from the institutions. This gives rise to situations in which the maintenance of records for such transactions seems to be the need of the hour. How does one keep a tab on all the credit lent, how does one identify defaulters and refrain from re-lending to them to avoid bad debt? As an answer to these questions, Govt. of India and RBI came together with CIBIL as the solution.

Salary hike expected What is a CIBIL Credit Information Report (CIR)?<Image Credit>

Some time back, we informed the readers regarding the Credit Rating system in India as a part of which we highlighted the CIBIL Credit Report being made accessible to the individuals. Now that the system is in place, many of us still do not know about it and are often surprised when they apply for a Credit Card or Loan and the application gets rejected by the bank.

So, I thought that there is a need to make people aware about this and that is what compelled me to write a post on this topic. When we talk about CIBIL Credit Information Report, there are a lot of questions that pop up in the mind. The very first of them being “What is a CIBIL Credit Report?”.

Taking this into account, in this article I am going to provide information about CIBIL and the brief about Credit Information Report. There are many more queries that people have regarding CIBIL like:

How do you come to know if your name is in the CIBIL Defaulter’s list?

How to access your CIBIL Credit Information Report (CIR)?

We will be taking up these in the upcoming posts. You can subscribe to us to receive the future articles in your mailbox.

So, now lets understand the basics about Cibil; What is CIBIL, how is it operated and how is it beneficial and some more things about CIBIL.

What is CIBIL?

cibil logo What is a CIBIL Credit Information Report (CIR)?

CIBIL (Credit Investigation Bureau of India Limited), which is currently the India’s first and the only fully operational credit information bureau, is a huge repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its Members in the form of credit information reports.

How old is CIBIL?

For all those who are not known to this, CIBIL is one of the 4 credit bureaus that have been licensed by the RBI under the Credit Information Companies Regulations Act, 2005 (CICRA). CIBIL, though, is the only one that has been operational for around a decade now and has the credit repayment history of around 14 crore loans and credit cards.

Who is the owner of CIBIL?

As per the information on CIBIL website, CIBIL’s equity share is held by State Bank of India, Housing Development Finance Corporation Limited, Dun & Bradstreet Information Services India Private Limited and Trans Union International Inc. The shareholding pattern is in the proportion of 40:40:10:10 respectively.

Recently, there has been a change in the shareholding pattern, including various categories of Credit Grantors. The distribution is as shown in the chart below:

CIBIL share holders distriution What is a CIBIL Credit Information Report (CIR)?

Who all are the members of CIBIL?

All the Credit Grantors; Banks, Financial Institutions, State Financial Corporations, Non-Banking Financial Companies, Housing Finance Companies and Credit Card Companies are the Members of CIBIL. These members only provide the information about the individuals’ credit history which can later be used by the other institution while taking decisions to lend money to that individual or not.

What is a CIBIL Credit Information Report?

A Credit Information Report (CIR) is a factual record of an individual’s (borrower’s) credit payment history compiled from information received from different credit grantors which are the CIBIL members. It contains all the information about a borrower’s transaction in the past. Its sole purpose is to help credit grantors make informed lending decisions. Slowly and gradually, all the lending agencies have started using the CIBIL Database before they lend money to any person/company.

How would I know if my name is in CIBIL Defaulter’s List?

There is one simple way to know if your name in the defaulter’s list. Whenever you apply for a loan or a Credit Card Application and everything is in place from your side, but your application gets rejected without any reason, then there is a chance that there is something wrong that the bank or the concerned institution found in your CIBIL Record.

As per the RBI guidelines, if something of this sort happens, the concerned bank has to let the consumer know the reason for this rejection. So, you will come to know if something is wrong in your Credit Report.

Or, the other way is to apply for a Credit Information Report directly from CIBIL to see if everything is in the right place in your report. You can even get the report just like that out of curiosity, to see what you have been doing since some years just like I did. icon wink What is a CIBIL Credit Information Report (CIR)?

We will discuss about how to get the access to your CIBIL Report in details here on EquiTipz. Subscribe to EquiTipz to keep you updated when we do that.

Can I get a copy of the CIBIL CIR?

YES. CIBIL has, some time back, started offering the CIR through an interim solution. This interim solution is kind of a testing phase and based on the learnings from this interim phase, CIBIL will be able to operationalize the full-fledged Consumer Relations System.

In this interim phase, CIBIL will be manually handling consumer requests for a copy of their credit information report(CIR).   As a future plan (which excite me icon smile What is a CIBIL Credit Information Report (CIR)? ), CIBIL is also developing the infrastructure, systems and processes for an automated solution that would be needed to enable an individual direct access to their Credit Reports from CIBIL on-line.  The full-fledged Consumer Relations System will have world-class features that will allow consumers to access their report on-line and banks will be able to respond to errors via an on-line maintenance tool. We will keep you updated about this when this happens. Also, we will take up the topic on how to get your CIBIL Report. Subscribe to our email updates now.

I hope that this article covers almost everything about CIBIL and by now you must have atleast some idea on “What is CIBIL”, please highlight if I missed something. Also, please contact us or comment below if you did not follow anything.

{ 43 comments… read them below or add one }

Herminia Yannotti May 14, 2010 at 8:32 am

I found this on Bing and just wanted to thank you for the tips in your blog entry. I will take my time and look at other pages and email my family about this.

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BIHARILAL RAMAWAT August 13, 2010 at 11:58 am

i finance a two wheller loan from citi finance loan no. 12602203 in this loan my 2 emi’s was bounced but paid timely but cibil shows 9 emi’s bounced so my cibil were worrest and my carrer are in darknees.now loan are closed more time ago.kindly update OK my cibil & revert me on urgent basis pls send me a confirm ok mail on my e-mail id.
my pan no. xxxxx DOB. xxxxxx mob no. xxxxxx

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Amandeep Singh March 11, 2011 at 12:09 am

Hi Mr Biharilal,

In that case you need to get your CIR from CIBIL to verify the details and if that is the case, you should contact your bank to get the details rectified with CIBIL…

And, we are only a blog which provides you information on such issues, we do not have any relation with CIBIL and we cannot get any modification to your report. You need to contact CIBIL…

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tanveer khan September 25, 2010 at 11:41 pm

check my name in cibil

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Madhukar November 18, 2010 at 7:06 pm

Hi Amandeep,
Earlier i don’t know anything about CIBIL. Thanks alot for giving the more info about the same.

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Amandeep Singh December 9, 2010 at 2:35 am

Hi Madhukar,

I am glad that this was beneficial for you :)

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KAMLESH KUMAR December 22, 2010 at 2:22 pm

plz.send me detail how can delete my name is cibil list

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B.Nageswara Rao January 21, 2011 at 2:39 pm

please check my name in CIBIL. I shall be grateful.

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Amandeep Singh February 24, 2011 at 5:51 am

Hi Nageswara… we cannot check your name in CIBIL.. This article is to give you an overview as to what CIBIL is and how it works.. you need to apply for a CIR from CIBIL to check your name…

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RAMADASAN February 14, 2011 at 3:55 pm

Sir, Congratulations. I heard about CIBIL recently only. It is a marvelous idea of the century. This will reduce the habitual defaulters. As far as people who are not able to refund their credit timely due to loss of job, as happened in the recent recession period, and due to loss of their sole bred winner in the family all on a sudden , it will not look nice. They may be dutiful creditor and due to mishappenings, their name is projecting in the CIBIL is not advisable. In such cases, needs lenient approach by the Financial Institutions in reporting to CIBIL and publishing names and details of such people by the CIBIL.
Since such a move is aimed to reduce defaulters in society and maintaining the good health of financial institutions, if any such organization has come up with a noble idea of publishing all the details about our politicians from Panchayat to the Parliament about their responsibilities, and how they are deviating from this, how funds have been diverted, misused, how clean they are, how corrupt they are, how they are dutifully working in the House the public will definitely have a glimpse on this and accordingly, they can vote and empower their leaders during elections and we could build a beautiful corruption free India. Similar data can also be stored about the Government servants from small posts to big beaurocrats for the sake of good health of the Nation.

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Deepak February 16, 2011 at 4:35 pm

Hi,
I just want to know that How much time it will take to recv my CIBIL Report ?
I have already posted CIR and online payment confirmation of Rs.142.00

how much days will it takes……?

Reply

Amandeep Singh February 24, 2011 at 5:39 am

Hi Deepak,

At the time when I did this last year… it took me some 3-4 weeks… it usually takes this much time..

Reply

Deepak February 28, 2011 at 5:42 pm

Thanks Amandeep….
can you tell me how I recv the CIBIL Report ?

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Amandeep Singh March 11, 2011 at 12:03 am

Hi Deepak,

You need to apply for it by sending an application and draft of Rs. 142 to CIBIL and they would send across your CIR… I will soon be posting an article on the whole process, how to do it. So, you may subscribe to our newsletter by entering you email in the subscription on top right, and you will be notified when the article is posted… :)

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Prahallad Chowdhury July 20, 2011 at 9:44 am

plz.send me detail how can delete my name is cibil list. I am verry disturb about this matter

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Amandeep Singh February 27, 2012 at 7:57 pm

Prahllad, You can check your CIBIL score by visiting the CIBIL website and follow the simple online process and then make the payment.

I will soon be coming up with a tutorial on this … stay tuned till then… :)

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Nanjundaswamy M October 16, 2011 at 2:41 pm

How to get my CIBIL report?

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SUKDEV SAHA November 21, 2011 at 4:21 pm

I want to know my cibil report immediately. Please inform me about the system.

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Amandeep Singh February 27, 2012 at 7:55 pm

You can check your CIBIL score by visiting the CIBIL website and follow the simple online process and then make the payment.

I will soon be coming up with a tutorial on this … stay tuned till then… :)

Reply

Chinmoy Srivastava November 26, 2011 at 1:23 am

HI Amandeep,

Thanks for this wonderful information about CIBIL ,Please help me to understand the difference between CIBIL Trans Union Score and CIBIL CIR

Regards
Chinmoy

Reply

Amandeep Singh February 27, 2012 at 7:54 pm

Hi Chinmoy,

Thanks for dropping by…

- CIBIL CIR is your Credit Information Report which shows how healthy your credit history is.
- The CIBIL TransUnion Score is a 3 digit numeric summary of your credit history which is derived by using the details found in the “Accounts” and “Enquiries” sections on your CIBIL Credit Information Report (CIR). This score ranges from 300 to 900 points and the closer you are to 900, the better it is for your credit history.

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yogesh BhardwaJ December 31, 2011 at 10:24 am

plz.send me detail how can delete my name is cibil list

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A.Hari January 23, 2012 at 3:00 pm

how to take out my name in the cibil report

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A.Hari January 23, 2012 at 3:01 pm

how to get my cibil report

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A.Hari January 23, 2012 at 3:03 pm

how to receive the cibil report, thenonly i will get my ETL
please help me

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Amandeep Singh February 27, 2012 at 7:21 pm

You need to go to the CIBIL website and follow the simple online process and then make the payment.

I will soon be coming up with a tutorial on this … stay tuned till then… :)

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MADHAV January 26, 2012 at 11:33 pm

Hi Amandeep I just want to make out my from CIBIL,How can I.

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Amandeep Singh February 27, 2012 at 7:21 pm

Hi Madhav,

You need to go to the CIBIL website and follow the simple online process and then make the payment.

I will soon be coming up with a tutorial on this … stay tuned till then… :)

Reply

vijay March 7, 2012 at 3:37 pm

cibil report help and advice call 079-40099917,09687967770

veritas.smeet@gmail.com

Reply

Amandeep Singh March 27, 2012 at 4:07 pm

Hi Vijay,

If you really want to help a wider mass with the knowledge you have got about CIBIL, please consider writing for us and join us in spreading financial literacy in India.

Reply

jagan March 23, 2012 at 5:01 pm

Where can I find the latest tutorial

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richa July 20, 2012 at 12:44 am

Hi Amardeep,
i want to know that to check name in cibil – should i pay for CIR report or cibil transunoin report.

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arsh August 7, 2012 at 5:45 pm

Hi Amandeep

I read your reply above to the difference between CIR and TransUnion.

Do you mean to say there is no ‘score’ mentioned in CIR? If no, then what does CIR contains in detail?
Thanks!

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SWAPNIL October 15, 2012 at 1:10 pm

I have made settlement of 3-4 credit cards and now my cibil score is very low as recently my personal loan application is rejected.

Please tell me what I have to do now to improve cibil score. Also confirm me that is there any validity for bad cibil score like after some years I will be out of defaulters list.

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Navin Bajaj November 2, 2012 at 4:43 pm

Hi Amandeep,

Do you have any information on the laws governing liabilities for add on credit cards.
HSBC has placed an overdue on my account in CIBIL for an add-on card that i have never used.
The primary card holder may have used , but i am still curious what laws allow the bank to pass the liability to my account ?

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ashutosh January 6, 2013 at 6:39 pm

hi mr.amandeep..
the information provided by you was great…it helped me a lot..but please let me know does CIBIL contains information of individual’s (borrower’s) family member’s information also…..
its very mandatory to know it for me….please tell me as soon as possible.
thank you..

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Amandeep Singh January 6, 2013 at 9:53 pm

Hi Ashutosh,

Thanks for dropping by…

Regarding your query, the CIBIL report has information of loan/credit details of the borrower only. Therefore, it would not matter if someone in his/her family has defaulted. If one’s own repayment track record is okay, his/her credit score will not be affected by that of family members.

I hope that clarifies your doubt…!

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ashutosh January 8, 2013 at 2:44 pm

yes..affcource…it is very use ful information for me….thankyou so much…..

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Amandeep Singh January 16, 2013 at 1:20 am

No Problems :)

Enjoy your stay at Equitipz.com

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smita March 29, 2013 at 12:49 am

i have paid off my loan total amount.now when i applied for personal loan & credit card it rejected. then i come to know that my credit report is bad because of irregular loan payment. but it was irregular but i cleared it one year before. can anybody tell me how i will clear my credit report.

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Amandeep Singh July 10, 2013 at 11:07 pm

Hi Smita,

You need to get in touch with the bank you cleared the loan with originally and they should get it sorted out for you..

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Sukhvindar singh July 4, 2013 at 5:08 pm

I had no idea my credit was bad. The guys at Credit Sudhaar analysed my report. The process took some time but my credit was restored, enhanced and protected. I have no reason for complaints.

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Puneet August 16, 2013 at 3:03 pm

Hi..
I had financed a laptop loan from bajaj auto in 2007. after the completion of the tenor, i had visited the local office of BFL and asked for my NOC. They provided me a account statement with all the cleared emi’s at that time.
Now, in 2013, they called me that one of my emi’s is due from BFL for the same loan account.
I told them clearly that if they can provide me the bounced cheque of the bank memo where my cheque is bounced/returned from my bank, i’ll be happy to pay otherwise don’t harass me and this will lead to counsumer courts.
Now they put my name in to the CIBIL and it will effecting my credit history.
Please advice, how to handle these guys??

Rgds
Puneet

Reply

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