Frequently Asked Questions - CRIB


NO. CRIB maintains a database of Credit Information provided by all the Authorized Lending Institutions in the country. A crib report therefore gives details of all credit facilities availed of by an individual or corporate entity from any of the authorized lending institutions. All credit facilities irrespective of the amount, type and status should be reported to CRIB and updated monthly.



YES. CRIB now includes the details of cheques returned by commercial banks due to insufficient funds in the respective credit reports since January 2010.



NO. However the Bureau is making arrangements to collect such information in the near future.



Credit information is supplied by all Commercial Banks, Specialized Banks, authorized leasing and finance companies who are members of CRIB. The information is transferred electronically through their head office to CRIB and updated at the end of each month.



Please browse About Us -> Member Institutions menu for more information.



The institutions which are coming under the definition of Sec. 7 B of the CRIB Act are qualified to request for membership of the bureau.



YES. According to the provisions of the CRIB Act, all member institutions are legally liable to submit their customers’ credit information to the bureau.



ABSOLUTELY NOT. Credit details of any individual or corporate who has availed of a credit facility would be stored in the CRIB. In fact having a good repayment history in a credit report is the best reference you could have to prove your credit worthiness which in turn prompts lending institutions to offer the Borrower attractive terms & concessionary interest rates.



FALSE. CRIB does not Black List anyone. It merely collects credit information and repayment records of individuals and corporates and furnishes such information to member institutions on demand.






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