Credit Information Companies (CICs), commonly known as credit bureaus are specialized financial institutions, licensed by the Reserve Bank of India, to collect and maintain data related to the credit behavior of both individuals and commercial entities in India. This data is subsequently used by these companies to generate credit score and credit report of individual borrowers across various lenders and loan types. At present there are four Credit Information Companies in India:
- TransUnion CIBIL
- Equifax
- Experian
- CRIF Highmark