Advertisement

HindustanTimes Tue,16 Sep 2014

Cibil to launch mortgage default database

PTI  New Delhi, July 08, 2010
First Published: 01:00 IST(8/7/2010) | Last Updated: 01:03 IST(8/7/2010)

Credit Information Bureau (India) Ltd (Cibil) will come out with a database on mortgage defaulters and is also looking at expanding client base to telecom and insurance firms.

Advertisement

"We will come up with a database of mortgage defaulters very soon," said Arun Thukral, managing director, Cibil, after announcing the launch of Cibil Detect — a nationwide database of reported fraudulent and suspect activities.

Cibil is also looking at providing data to telecom and insurance companies to help them retain customers.

"We are looking at expanding our database. Giving data to telecom and general insurance firms are what we are looking at. Also we would come up with data for micro finance institutions (MFIs)."

Members of Cibil include banks, financial institutions, non-banking financial companies and housing finance firms.

The database for MFIs is aimed at providing information mainly about multiple lending to rural borrowers, Thukral said, adding, MFIs would gradually become main players in the domestic lending space.


Advertisement
more from Business

Govt to decide on diesel deregulation after state polls

The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved