Press Trust of India / Mumbai Feb 18, 2010, 18:47 IST
Global information services firm Experian today said the Reserve Bank has permitted it to operate a credit bureau in the country.
Credit information bureau provides comprehensive credit information such as the details of the credit facilities, the payment track record etc of the borrowers. The apex bank permission will enable the England-based Experian to enhance its credit granting processes and portfolio management services in the country.
Last year, Experian formed a credit information firm, Indian credit bureau, in joint venture with seven other institutions, including Punjab National Bank, Union Bank of India, Sundaram Finance and Magma Fincorp amongst others.
"The RBI permission creates a platform for us to introduce a wide range of new products and services to help the domestic financial services and telecom markets acquire and retain profitable customers," Experian chairman TS Narayanasami said.
Experian is the second credit bureau in the country after Credit Information Bureau India which was incorporated in 2000.
Globally, Experian operates in 65 countries providing services to customers to manage their credit risk, prevent fraud, target marketing offers and automate decision-making. It also offer services to individuals to check their credit report and credit score and protection against identity theft.
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