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.