CIBIL(Credit Information Bureau (India) Limited) is also referred as Credit bureau. In India CIBIL is the first company which provides credit information to the banks of the customers. It was established in Aug 2000. CIBIL was licensed by the RBI and governed by the credit information company’s regulation Act. 2005. CIBIL brings a greater transparency and efficiency in the credit space. There are many companies who provides credit information but the record of CIBIL is trustworthy.

A credit score is provided by three credit bureaus of RBI, they are Equifax, Experian and CIBIL. CIBIL score is a three digit control number issued to every customers. Which ranges from 300-900. Best score is 900. If you don’t have any credit history then your credit score is -1. In case, if you have credit history of a period of 6 months then your score will be 0. Credit history builds within 18-36 months period. CIBIL score was calculated based on payments, usage of credit card, Balance between secured and unsecured loans, number of new accounts opened, how much amount deposited in account, loan queries from different lending companies, etc. It was analysed by CIBIL on monthly basis information of the customer and a report is created called as CIR.