What are the Top Credit Rating Agencies in India?

Credit rating agencies have become indispensable for the banks and non-banking financial institutions. This is because they provide the credit profiles of the customers that apply for credit cards, loans, etc. and by going through their credit report a bank can assess the risk factor and make a decision accordingly.

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There are a number of credit rating companies in India. However, different banks are a partner with different ones. That said, the following are some of the top ones that are widely recognized:

1. CRISIL
   Formerly known as Credit Rating Information Services of India Limited, CRISIL is one of the oldest and most reputed crediting rating agencies in India. It was founded in 1987 and provides ratings, research, and financial advisory services.
2. TransUnion CIBIL
   TransUnion CIBIL (Credit Information Bureau India Limited), which was CIBIL earlier, is another top credit rating agency which provides its services to a large number of public and private sector banks.
   TransUnion CIBIL collects and updates the credit files of as many as 600 million individuals along with 32 million businesses. It was founded in 2000.
3. Fitch Ratings India Private Ltd.
   Fitch is a global credit ratings company that has more than 2000 employees across 30+ countries that it provides its services in. It’s headquartered in New York but is quite popular in India too.
4. Equifax
   Equifax is a global credit reporting agency and covers as many as 88 million businesses and 800 million individuals across the world.
   It has over 9,000 employees in 14 countries and is considered as one of the top 3 credit rating agencies right next to TransUnion and Experian.
5. Experian
   Based in Dublin, Ireland and founded in 1996, Experian collects and updates the credit information of over 1 billion individuals and businesses across the globe.
   In India, Experian has partnered with more than 2,900 financial institutions along with some telecom companies.