Leading Credit bureaus in India – CIBIL, Experian and Equifax have started lobbying with the government for to get access to consumers Mobile Bill Payment records. The companies have initiated talks with TRAI which currently prohibits sharing of consumer data with any of the credit bureaus in India.
Telecom Operators are Un-willing to share the information with the Bureaus unless the Government mandates. Separately, CIBIL the company which tracks your creditworthiness is also in talks with various Utility Companies (Electricity Suppliers where Consumers Pay Monthly Bills) as these records will prove as an alternative source of credit history in the absence of any Loans / Credit Cards.
Is Sharing Mobile / Electric / Water Bill Payment Record in the Interest of the consumer ?
In the West – US & UK, these records are already shared with the Credit Information Bureaus as they give a 360 degree view of the consumer. In addition, consumer Rent Payment records are also shared as most of the Landlords are Large companies in the West, unlike here, where its a completely fragmented market mostly single family owner lending to another.
To begin with, the Government must act in favor of sharing Post-Paid Mobile Subscribers Data with the Bureau and later extend it to all other subscribers since we have more mobile subscribers than bank accounts in India. Also this helps the Government by better knowing the consumer until now enforced by the KYC norms separately.