RBI/2011-12/165
DBOD.No. CID.BC.30 /20.16.042/2011-12
September 5, 2011
Chairmen/Managing Directors/CEOs
All Scheduled Commercial Banks
(excluding RRBs and LABs)
All India Notified Financial Institutions
Dear Sir,
Submission of Credit Information to Credit Information Companies – Defaulters
of Rs. 1 Crore and above and Wilful Defaulters of Rs. 25 lakh and above –
Dissemination of Credit Information of suit-filed accounts
Please refer to our Circulars DBOD.No.DL.BC.111/20.16.001/2001-02 dated June
4, 2002 regarding submission of credit information to Credit Information Bureau
(India) Ltd (CIBIL) and DBOD No. DL.BC.95/20.16.002/2003-04 dated June 17, 2004
regarding the Dissemination of Credit Information – Role of CIBIL.
- As you are aware, Certificate of Registration (CoR) has since been
issued to 3 Credit Information Companies (CICs), viz., M/s Experian Credit
Information Company of India Pvt. Ltd, M/s Equifax Credit Information
Services Pvt. Ltd and M/s High Mark Credit Information Services Pvt. Ltd to
commence the business of credit information under the Credit Information
Companies (Regulation) Act, 2005.
- You are advised to submit the quarterly list of suit-filed accounts of
Rs.1 Crore and above, classified as doubtful or loss, to CIBIL and/or any
other credit information company which has obtained CoR from RBI and of
which your bank is a member.
- In terms of Para 2.9 of Master Circular on Wilful Defaulters dated July
1, 2011, Banks / FIs have already been advised to submit the list of
suit-filed accounts of wilful defaulters of Rs. 25 lakh and above as at
end-March, June, September and December every year to CIBIL and / or any
other credit information company which has obtained CoR from RBI and of
which that bank is a member.
- Further, we advise that the above CICs have been advised to disseminate
credit information covering data supplied by banks / FIs on such suit-filed
accounts on their respective websites.
Yours faithfully
(P R Ravi Mohan)
Chief General Manager