Who Issues Credit Score or Credit Rating?

Credit scores or credit ratings are issued by credit bureaus, which are specialized agencies responsible for assessing an individual's or a company's creditworthiness.

The major credit bureaus operating in India are:

• TransUnion CIBIL™: TransUnion CIBIL™ is one of the most prominent credit bureaus in India. It collects and maintains credit information about individuals and businesses. Credit scores, ranging from 300 to 900, are widely used by lenders to evaluate a borrower's creditworthiness.
• Equifax: Equifax is another leading credit bureau in India. It provides credit reports and scores to both lenders and consumers. Equifax scores are also in the 300 to 900 range, with higher scores indicating better creditworthiness.
• Experian: Experian is a global credit information company that operates in India as well. It calculates credit scores based on an individual's credit history and repayment history.
• CRIF High Mark: CRIF High Mark is a relatively newer credit bureau in India but has gained importance in recent years. It provides credit scores and reports to financial institutions and consumers.

These credit bureaus compile information from various sources, including banks, credit card companies, and financial institutions, to create credit reports and calculate credit scores. The scores are derived from an individual's credit history, repayment habits, outstanding debts, and other financial data. Shriram Finance also provides credit score related services and uses these credit scores to make informed decisions when approving loans or other forms of credit.