CIBIL, Experian, CRIF, and Equifax: How India’s credit bureaus work

Credit bureaus are modern credit information companies. They collect, store, and analyse credit information from individuals and companies, helping lenders make better lending decisions. Banks and lending institutions take the data provided by these credit bureaus in the form of scores to carry out a deep background check on the aspiring applicant’s credit profile.

This background check helps in getting a fair idea about the creditworthiness, honesty, and repayment integrity of an aspiring borrower, and hence, better lending calls are made based on it. Currently, India has four major credit bureaus: CIBIL, Experian, CRIF High Mark, and Equifax India.

What are the basic functions of credit bureaus?

Credit bureaus compile credit data from banks, NBFCs, and card issuers to generate scores. These scores are generally provided in the range of 300 to 900. These bureaus are primarily regulated by the Reserve Bank of India (RBI). They enable responsible lending, low defaults, and smoother personal loans, home loans, and credit approvals.

Credit bureaus foster responsible lending and help protect borrowers. Since 1 January 2025, credit bureaus in India have been required to follow the 15-day reporting cycle mandated by the RBI rather than the month-long cycle. This change provides more timely and accurate credit information, allowing both lenders and borrowers to have a clearer, up-to-date view of creditworthiness and financial behaviour.

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Disclaimer: Mint has a tie-up with fintechs to provide credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards, and credit scores. Mint does not promote or encourage taking credit, as it comes with risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.