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CERSAI ties up with 2 more credit information bureaus

CERSAI ties up with 2 more credit information bureaus

26 Jan 2013
The Hindu Business Line

Edition: Page 06

 

Lenders can now get access to the credit score of potential borrowers and the encumbrance status of immovable property intended to be mortgaged.

This will be possible as the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) has tied up with two more credit information companies —Experian and Equifax.

The memoranda of understanding (MoUs) were signed and exchanged on Thursday in the presence of Financial Services Secretary D.K. Mittal, and Housing Secretary A.K. Mishra.

CERSAI, a Government company operational since March 31, 2011, already has a similar arrangement with CIBIL, which is the country's first credit bureau.

With the MoUs with Equifax and Experian, it has now tied up with almost all the major credit bureaus in India.

R.V.Verma, CEO and Managing Director, CERSAI, said this collaboration would make available information to the lending industry, both in respect of security status as well as the credit profile status of the borrowers.

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