CIBIL plans products to spot good customers

Mr S. Santhanakrishnan, Chairman, Credit Information Bureau of India Ltd (CIBIL) said, till now the focus with regard to using the CIBIL database had been more on spotting the defaulters and avoiding the possibility of refunding such delinquents. CIBIL is coming out with a couple of new products that will enable banks to spot their good customers and reward them. Another product, 'Macro analysis of the bureau data', sliced product-wise, geography-wise, is to be launched in December. With this, banks can thus compare their own profile vis-à-vis the industry profile as thrown up by the bureau data and take suitable corrective measures to shore up the risk profile of their books. CIBIL would also be launching "Bureau Credit Scores" for individual borrowers by February 2007. This is a product that is getting introduced in India for the first time.