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.
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. CIBIL Insights revealed that retail loans have grown at an average CAGR of 28% over the last three years, while at the same time there is significant reduction in retail NPA rates.
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.”
Source: Enterprise Innovation
