Why TransUnion Cibil in news?
V Anantharaman, a seasoned banker with substantial banking industry expertise, has been named non-executive chairman of credit bureau TransUnion CIBIL. Anantharaman has held leadership positions in corporate and investment banking teams at renowned international firms such as Standard Chartered Bank, Credit Suisse, Deutsche Bank, and Bank of America.
Anantharaman holds a post-graduate diploma in business management from XLRI and a bachelor’s degree in engineering from Jadavpur University. He has also served as a senior advisor to the UK's Development Finance Institution, British International Investment (previously CDC).
In addition to his new role, Anantharaman serves on the boards of The Indian Hotels Company Limited, Axis Asset Management Company, IIFL Home Finance Ltd, and Ecom Express Ltd. He also provides advisory services to Lighthouse Funds, a mid-market private equity firm focused on consumer and healthcare sectors. Mr. M V Nair, who has served as chairman for more than eleven years, is succeeded by Anantharaman.
All about the TransUnion CIBIL
TransUnion CIBIL Limited is an Indian credit information firm. It keeps credit information on over 600 million people and 32 million enterprises. TransUnion is one of four credit bureaus in India and is owned by TransUnion, an American global corporation.
TransUnion CIBIL was founded in 2000 and is headquartered in Mumbai, India. The company’s mission is to “provide accurate and comprehensive information to help businesses make informed decisions and consumers build their financial future.”
TransUnion CIBIL collects data on credit accounts, loans, and other financial information from lenders and other financial institutions. The company then uses this data to create credit reports and scores for individuals and businesses. Credit reports and scores are used by lenders to assess the risk of lending money to borrowers.
TransUnion CIBIL’s products and services include:
• Credit reports: A credit report is a summary of a person's credit history. It comprises loan, credit card, and other debt information, as well as payment history and other facts.
• Credit scores: A credit score is a number that lenders use to assess the risk of lending money to a borrower. Scores range from 300 to 900, with a higher score indicating a lower risk.
• Credit monitoring: Credit monitoring is a service that alerts borrowers to changes in their credit report, such as new accounts, inquiries, or late payments.
• Dispute resolution: TransUnion CIBIL offers a dispute resolution service that helps borrowers correct errors on their credit reports.
Important takeaways for all competitive exams:
• TransUnion CIBIL Headquarters: Chicago, Illinois, United States;
• TransUnion CIBIL Founded: 8 February 1968.
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