What is CIB and how it will help to assess credit facility?

CIB or Credit Information Bureau is an organisation which collects and merges credit data, which is then accessible for its member banks or financial institutions on request in the form of credit report for the purpose of credit assessment .

Credit Information Bureau contains a credit history or credit worthiness of customers. Report containing detailed information about credit history can be pulled by customers Unique identification like PAN Card Number (India), Social security number(GCC, US,Etc,). It helps the financial institution to analyse the customers brief history and worthiness of paying back for the requested credit.