Different Kinds of Credit Bureaus Available in India

Credit Bureaus

The Reserve Bank of India licences Credit Information Companies (CICs), sometimes known as credit bureaus, to collect and keep credit data for both people and companies in India. These companies then utilise this information to build credit reports and credit ratings for individual customers across a variety of lenders and loan types. Despite the fact that they provide identical services, the four credit bureaus differ significantly. However, the CIBIL score online is the most extensively utilised of the four credit ratings in India. In today’s time, there are 4 credit bureaus in India that are as follows:

  • Equifax
  • TransUnion CIBIL
  • Experian
  • CRIF Highmark


Equifax India is a partnership formed by Equifax Inc. of the United States and seven major Indian financial institutions. However, it was founded as a Credit Information Company in Mumbai in 2010. Generally, it compiles credit information for people and businesses using Credit Information Reports and Credit Scores and presents it in a usable and understandable fashion. Moreover, Equifax now has a division dedicated to meeting the expanding lending and regulatory needs of Microfinance Institutions.


Experian was the first credit bureau licensed under the new Credit Information Companies (Regulation) Act (CICRA) 2005 in 2010. Moreover, Experian India provides its own credit report and score that individuals and companies may use. However, its research, business solutions, and analytic tools may assist you in making sound credit decisions.

CRIF Highmark

CRIF Highmark, based in Mumbai, claims itself as the country’s first full-service credit bureau, providing complete credit information to all types of borrowers, including MSME (Micro Small and Medium Enterprises), retail consumers, commercial, and institutional borrowers. This credit bureau provides insights, analytics, database management, and associated software solutions to banks, MFIs, NBFCs, Housing Finance Companies, Insurance Companies, Telecom Service Providers, and others in addition to credit reports and ratings.

TransUnion CIBIL

TransUnion CIBIL, India’s first and most well-known credit bureau, was created in the year 2000. Generally, all major banks, financial institutions, home finance firms, and non-banking financial organisations are members of CIBIL in India (NBFCs). However, it gathers and stores credit information on over 1000 million consumers and businesses. Moreover, CIBIL creates Credit Information Reports (CIR) and CIBIL Scores for people and CIBIL Commercial Reports and CIBIL Ranks for commercial organisations using credit information gathered across its three divisions: Consumer Bureau, Commercial Bureau, and Micro Finance Institution Bureau. Moreover, you can make a CIBIL score login to keep a regular check on your CIBIL score and report.

Difference Between the Bureaus

Generally, each bureau’s secret algorithm for calculating a person’s credit score differs, and the exact breakdown of these components is unclear. As a result, a person’s credit score might fluctuate between credit bureaus. The table below shows the difference between the credit bureaus:

Registration Year Registered in 2000 Registered in 2010 Establish in 2006 but got licence in 2010 Got Licence in 2010
Report  Charges CIBIL charges INR500 for a credit report.However, you can check your CIBIL report on various websites for free. EQUIFAX offers one free report every year, and charges INR400 for every report after that. It charges INR100 + taxes. For an EXPERIAN report. CRIF report is available at INR399.
Time Taken to Prepare Credit Report  It is available online through the CIBIL website. If you request a complete credit report using the Equifax mobile app, you will receive it through email within one day. The report is available online on the EXPERIAN website Generally, CRIF report is sent instantly to your email address

Although the credit scores by each of the four credit information providers differ, the credit reports and credit scores generated by each are equally legitimate. This is because all credit bureaus obtain the same information from lenders such as banks and financial organisations. Moreover, the RBI has granted licences to all four credit bureaus: CIBIL, Equifax, Experian, and CRIF Highmark.

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