After the Reserve bank of India (RBI) made it mandatory for credit bureaus to offer one free credit report to those interested in getting one, the bureaus rolled out the offering starting 1 January 2017. As reported earlier in Mint, here (bit.ly/2ko4h37) and here (bit.ly/2ouwyWz), some offerings began with difficult and complex processes, which were later made simpler by all the bureaus.
Apart from bureaus, online financial marketplaces are also offering free credit scores and reports. “A fintech company, with authorization from its consumers, can access their credit reports and scores from a credit bureau for a price. It may, in turn, choose to offer this report or score to the consumer for free or as part of its services,” said Manu Sehgal, business development leader, emerging markets, Equifax India.