India’s Credit Information Bureau expands into small and micro loans segment
India’s Credit Information Bureau (India) Limited (CIBIL) has expanded its reach in the small and micro loans segment. CIBIL will partner and provide information solutions to small and micro lenders to help them make better lending decisions, grow their customer base and drive credit penetration.
While speaking about CIBIL’s expansion in the small and micro loan segment Ratna Vishwanathan, CEO of MFIN commented, “Although banks have started providing data to all credit bureaus, CIBIL’s expertise in data insights and solutions is very valuable in the context of a more complete credit profile. CIBIL’s experience and leadership in handling a bureau will be a good value addition to the MFI credit rating ecosystem.”
CIBIL claims that the availability of credit information insights has contributed to driving growth in the retail credit segment while fueling credit penetration and financial inclusion in the country.