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Private Banks Ride Retail Credit Lending Boom backed by CIBIL,Experian & Equifax

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CIBIL Credit Bureau Conference IndiaIndian private sector banks are focused on retail lending, largely on account of process-driven lower turnaround time for lending decisions in the retail segment. Bureaus such as CIBIL, Experian and Equifax have played a key role in meaningfully reducing the probability of adverse selection by lenders, facilitating more sensible targeting and deeper mining of existing customer relationships. However, in the current cycle, the thrust is equally split between secured and unsecured (50:50) in contrast to 2007 where the mix was skewed towards unsecured (nearly 70%-80% of the proposals during 2007 were unsecured in nature).

Indian Credit Bureaus, CIBIL, Experian and Equifax also believes that banks are more comfortable in disbursing top-up loans on an existing loan product resulting in rising leverage,

Read morePrivate Banks Ride Retail Credit Lending Boom backed by CIBIL,Experian & Equifax

Experian Looking at Growth Opportunities in India

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Experian-India-GrowthExperian leading Credit Bureau globally is prioritizing growth (6-8% organic in our model) over margin expansion. This is probably in the best interest of company and investors. The four main growth drivers Experian is focusing on are

  1. Geographic expansion,
  2. Increasing data depth
  3. Growing business segments within each geography, and
  4. Introducing and monetizing new products / verticals.

The company appears well positioned to profit from big global

Read moreExperian Looking at Growth Opportunities in India

Want Car Loan ? Have Good Credit Score – Bankers Relying on CIBIL Report

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Car Loans - CIBIL Inquiry IndiaAuto Loans in India are on rise in the past 3 years and the demand is especially coming from smaller cities. After the 2008 Crisis, Banks have tightened their lending norms towards unsecured loans – Credit Cards & Personal Loans and even for Auto Loans they are increasingly relying on Credit Reports ans Scores from all the Three bureaus – CIBIL-Transunion, Experian and Equifax.

Approximately 20% of the inquiries in the last few years have been for new Auto Loans at CIBIL. Delhi NCR alone contributes 35% of the Inquiries in

Read moreWant Car Loan ? Have Good Credit Score – Bankers Relying on CIBIL Report

How does Sample Experian Credit Information Report Look Like in India ?

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We’ve received some mails from our readers on asking us to explain the Experian Credit Information Report now available in India. Acknowledging readers demand today we’ll explain the contents and format of Experian Credit Report released by Indian Office which is in compliance with the Credit Information Companies (Regulation) Act, 2005.

Section 1 of the Experian Credit Information Report [CIR] is the “Application Details“.
These are the details you give us as part of your application for your CIR supported by the relevant documents including Personal details such as Name, Address, Date of Birth, Telephone Number, Gender, Marital Status, Email id and identity details such as PAN, Voter Id, Passport Number, Driving License, Ration Card & Universal Identification (Aadhaar number). Experian has used this information to produce your report and this section looks like as stated below.

Read moreHow does Sample Experian Credit Information Report Look Like in India ?

Experian Credit Infomration Report Available on Demand in India

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We have just discovered that, Experian, the leader in Consumer Credit Rating has launched Credit Reports on Demand for any Citizen of India. This facility is made available exactly a year after CIBIL started offering its consumers credit reports directly on demand.

Experian have priced Consumer Report at Rs 138 compared to CIBIL’s Rs 154. I have ordered mine and will weigh the difference between Experian’s and CIBIL’s as soon as it is available with me.

You can Order your Credit Report directly from Experian using the Form available here.

If you are Sending the Credit Information Request Form along with

Read moreExperian Credit Infomration Report Available on Demand in India