Credit Information Bureau of India Limited (CIBIL) says it is now able to provide corporate clients with information on letter of credit (L/C), bank guarantee and other debt related exposures.

CIBIL already makes company credit information reports (CCIR) available to lenders, and the provision of such reports to corporate clients means they will be able to see an accurate picture of where they are in the financial life cycle.

Monthly record

The service enables businesses of all sizes to review the information that is being used by lenders to evaluate their loan and credit line applications.

The CCIR provides, on a month-on-month basis, a record of a company's debt related exposure and payments.

Positions captured by the reports include L/Cs and bank guarantees as well as overdraft facilities, loans of all maturities, deferred payment obligations and forward contracts.

Financial life cycle

The CCIR is already widely used by lenders according to CIBIL, which now hopes to sell the same information to businesses making loan applications.

The benefits for businesses, according to the bureau, include a better understanding of where their company stands in the financial life cycle and an opportunity to see and correct any discrepancies within CIBIL's reports.

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