Eying a lucrative business in the rural heartland, Credit Information Bureau (India), India’s first

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credit information company, popularly known as Cibil, plans to add 400-600 cooperative banks at the district level as its member in the financial year 2011-12.

“We want to provide credit risk management tools to our growing list of district cooperative banks and microfinance institutions to be competitive in their lending business,” said Arun Thukral, MD of Cibil.

”We are targeting to enlist membership of 400-600 district-level cooperative banks in the country in financial year 2011-12,” Thukral said. He said four leading cooperative bank associations in Maharashtra — Kolhapur Zilla Nagari Banks’ Sahakari Association, Pune Zilla Nagari Sahakari Banks’ Association, Ahmednagar Zilla Nagari Banks’ Association and Satara Zilla Nagari Sahakari Banks’ Association — has become its members.

At present, Cibil’s membership base has crossed 500 credit grantors across India, including 200 cooperative banks.

“Our advanced analytic and risk management tools help credit grantors mitigate risk and ensure superior portfolio performance,” said Darshan Shah, deputy vice president-commercial key accounts, Cibil.

”With information on over 200 million consumer trades and seven million commercial trades, Cibil provides its members with world-class credit risk management tools,” Thukral said.

He said Cibil’s range of products include credit information reports, portfolio review reports, Cibil Trans Union personal loan score, Cibil detect, Cibil mortgage check, Cibil locate plus and Cibil market insights.

“The reliable credit information service from Cibil will enable us to make prudent lending decision to remain competitive in the market,” said Kiran Karnad, executive officer, Kolhapur Zilla Nagari Banks’ Sahakari Association.