After establishing its name in the credit rating for retail customers, the Credit Information Bureau (India) Ltd (CIBIL) is planning to focus on the commercial segment. In this segment, 74 per cent of the business is with the public sector banks and a substantial portfolio is in SME and corporate lending.
Speaking to reporters on the sidelines of the fourth annual credit information conference at Chennai, CIBIL chairman M V Nair said its credit data helps the banking system in the management of non-performing assets (NPAs).
According to him, "NPAs in retail segment used to be around 2-2.5 per cent in 2010, which now came down to around 1-1.5 per cent. Its a good improvement and one of the key reasons is CIBIL's data".
"Making similar information available on the commercial side is the priority for CIBIL," said Nair.
On offering the service to insurance sector, he said insurance and telecom companies can be users of the data. According to the Act, those who provide information on customers can become members of the CIBIL.
The insurance regulator Irda, through Insurance Information Bureau (IIB), is developing a credit rating system for the insurance sector in close co-ordination with the CIBIL. The system would help life insurance and general insurance segments.CIBIL also shares information with telecom players.
Speaking to reporters on the sidelines of the fourth annual credit information conference at Chennai, CIBIL chairman M V Nair said its credit data helps the banking system in the management of non-performing assets (NPAs).
According to him, "NPAs in retail segment used to be around 2-2.5 per cent in 2010, which now came down to around 1-1.5 per cent. Its a good improvement and one of the key reasons is CIBIL's data".
"Making similar information available on the commercial side is the priority for CIBIL," said Nair.
On offering the service to insurance sector, he said insurance and telecom companies can be users of the data. According to the Act, those who provide information on customers can become members of the CIBIL.
The insurance regulator Irda, through Insurance Information Bureau (IIB), is developing a credit rating system for the insurance sector in close co-ordination with the CIBIL. The system would help life insurance and general insurance segments.CIBIL also shares information with telecom players.
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