Credit Bureaus may soon be allowed access to data from utility providers

Credit Bureaus may soon be allowed access to data from utility providers as well as other databases like the Goods and Services Tax Network (GSTN), say experts.

The RBI has indicated that amendment to the relevant statute is on cards for facilitating access of credit bureaus. However, no timeline has been indicated for making amendment. The RBI has stressed on the importance of credit bureaus to improve financial inclusion, especially after it decided to set up a Public Credit Registry (PCR) in April.

Deputy Governor N S Vishwanathan said the RBI has taken several measures to strengthen credit information companies