Equifax launches credit information service in India

ECIS brings Equifax's global experience to the growing Indian economy through its joint venture with six leading Indian financial institutions.

Equifax Inc,a global leader in information solutions,said that it has begun providing its in-depth credit information solutions across India,using member-contributed data from the country’s largest banks and financial institutions.

Equifax Credit Information Services (ECIS) brings Equifax’s global experience to the growing Indian economy through its joint venture with six leading Indian financial institutions.

These are Bank of Baroda,Bank of India,Kotak Mahindra Prime Limited,Religare Finvest Limited,Sundaram Finance Limited and Union Bank of India.

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Equifax applied to the Reserve Bank of India (RBI) for a Certificate of Registration to establish the new credit information company under The Credit Information Companies (Regulation) Act,2005,and was approved for a license in March of this year.

“The emergence of India as a major influence in global commerce,and India’s own internal growth,require world-class customer insights and risk-management systems,” Equifax Chairman and CEO,Richard F Smith,said in a statement.

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