From : E-Group, STC, Salt Lake, Kolkata This message is intended only for the use of the Addressee and may contain information that is PRIVILEGED and CONFIDENTIAL. If you are not the intended recipient, dissemination of this communication is prohibited. If you have received this communication in error, please erase all copies of the message and its attachments and kindly arrange to notify stcsaltlake@xxxxxxxx immediately. Using Internet Explorer in ATM PC of your branch, please browse http://10.128.74.200 (our Intranet Web-Site). We have provided lots of Reading Materials for you at the site. Happy browsing! Dear Member, Kindly double click on the enclosed attachment to read it. With regards, Anup Sen, Moderator E-Group, STC, Salt Lake, Kolkata email : stcsaltlake@xxxxxxxx We shall be glad to receive your feedbacks through emails regarding the mails being sent to you through this e-group.Title: State Bank of India, Staff Training Centre, Salt Lake, Kolkata. : : stcsaltlake@xxxxxxxx : :
Mumbai (UNI) 05 May, 2004, 3:24 pm: The country's first Credit Information Bureau
has been launched here today with 87 members that include banks, financial
institutions and non-bank financial companies (NBFCs), covering over 90 of the
country's credit outstanding markets. Introducing
the objective and future role of the Credit Information Bureau of India Ltd
(CIBIL), Chairman Mr. Santhanakrishnan said, the bureau would act like a
catalyst to assist the decision making process of the banks and financial
institutions in sanctioning credit to the borrowers of clean credit
records. ''Its a challenge as well as
an opportunity in equal measure for the credit grantors to enhance the loan
portfolio in the face of burgeoning of non-performing assets (NPAs)'', he said.
In spite of phenomenal growth in retail
and housing loan portfolios, India remained one of the most under-penetrated
credit markets in the world with the ratio of consumer credit to GDP of around
three per cent as against 30-60 per cent in other East Asian countries, he
observed. The establishment of CIBIL is
a result of the initiative taken by the government in consultation with the
Reserve Bank of India (RBI) in their drive to arrest the growing NPAs in the
banking sector which is estimated to be around Rs70,000 crore. This is significant
in the face of the phenomenal boom in the retail sector of the economy. CIBIL Managing Director Mr. Satish Mehta
said that this was the first time in the country that a detailed and
comprehensive credit information report, covering both negative and positive
data about an entity or individual would be made available to the credit
grantor community on information sharing basis. The objective was to help them
take informed, speedier and balanced credit decisions, he said. With a paid-up capital of Rs25-crore,
CIBIL has been promoted by the State Bank of India and HDFC with 40 per cent
equity each in technical alliance with Dun & Bradstreet Information
Services and Trans Union International, each having a 10 per cent equity
holding in the Bureau. CIBIL has the
current membership of 60 commercial banks, 8 financial instituions, 8 NBFCs, 2
state finance corporations and 1 credit card company and this may go up to 100
per cent coverage by the current fiscal end. The Bureau also today introduced the first
ever consumer credit information scheme under which the members could access
information about the borrowers in consumer segment. It has already generated
5.5-million records collected from 13 out of 87 members now. The membership fee is based on the asset size
of the banks or institutions, ranging from Rs1-lakh to Rs6-lakh. |
