24 Mar, 2014
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Central Bank sells entire stake in CIBIL to Transunion
State-run Central Bank of India during March 2014 sold its entire stake in credit information provider CIBIL to Transunion International Inc. (TII) for an undisclosed amount. Central Bank had a 5% stake in CIBIL while Transunion is the majority shareholder in CIBIL at 27.5%. Among others, Bank of Baroda, Bank of India, Punjab National Bank, Union Bank, Citicorp Finance (India), HSBC, Standard Chartered Bank, Indian Overseas Bank and HDFC Ltd each hold 5 % stake in CIBIL. State Bank of India and ICICI Bank carry 10 per cent each, while rest of 2.5 per cent is with Sundaram Finance Ltd.
What is CIBIL?
Credit Information Bureau of India Limited (CIBIL) collects and maintains records of an individual’s payments of loans and credit cards. Records are submitted to CIBIL by banks and other lenders on a monthly basis. Such information is used to create Credit Information Reports (CIR) and credit scores which are provided to lenders to help evaluate and approve loan applications.
The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.
Know, who is Vijay Kelkar and what is PPP !
Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.
Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !
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Know about Sepp Blatter!
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