The largest lender of the country, State Bank of India has entered the team of members for credit information agency, Experian.
Major lenders in India have so far been subscribing to CIBIL for getting their required credit details including SBI. But with opening up of new service providers like Experian, lenders are getting more options to select on.
"The State Bank is the largest lender and the addition of its credit data will further increase the Experian's data coverage and enhance the effectiveness of our range of products and services," said Experian in a statement.
"We are pleased to be a member of Experian. We believe this membership will help better leverage the multi-bureau environment and enable us to better use data and analytics, and also manage credit risk and leverage our opportunities better," said chief general manager of SBI, Mr Pardeep K Khosla.