Now firms get to access credit info
Credit Information Bureau of India Limited (Cibil) on Wednesday launched the company credit information report (CCIR) to help them access system data before they raising a loan or indulging in other financial dealings.business Updated: Jul 06, 2011 21:56 IST
Credit Information Bureau of India Limited (Cibil) on Wednesday launched the company credit information report (CCIR) to help them access system data before they raising a loan or indulging in other financial dealings.
Companies will have to pay Rs 2,500 to avail the report. They can get the report by completing an online application form. Valid identity proof, address proof and a letter from an authorised signatory need to be attached to the payment receipt generated online and then mailed to Cibil for processing the request.
“Business entities can now access their credit report directly from Cibil to see where the company stands in the financial life cycle and identify critical areas that need improvement to further enhance its credit-worthiness and improve the eligibility for financing,” said Arun Thukral, managing director, Cibil.
The report will be more relevant to small and medium enterprises (SMEs) that find it difficult to get loans to from banks and financial institutions.
A month-on-month record of a company’s debt related exposure and payments, the CCIR contains details such as loan tenure, cash credit, overdraft facilities, loans of all maturities, bank guarantees, letters of credit, deferred payment obligations and any other debt exposure that a company has incurred.
First Published: Jul 06, 2011 21:54 IST