CRIF Highmark is another one of the four main RBI-licensed credit bureaus in India. It is the first full-service credit information bureau of India which covers credit information related to all major borrower segments – retail consumers, micro-finance borrowers, MSMEs and commercial borrowers, across rural and urban areas of the country. Armed with an extremely large database of businesses and individuals from 4000 different financial institutions, CRIF Highmark offers useful credit information services and facilitates millions of lending decisions per month.
Highmark came into being as a start-up credit bureau back in 2007, aimed at setting up the most inclusive and comprehensive credit bureau of India. It began its credit bureau operations in March 2011 after receiving the Certificate of Registration from RBI in 2010. Later on in mid-2014, CRIF bought the majority stake in Highmark, renaming the company as CRIF Highmark Credit Information Services. Other than CRIF, the other prominent investors in CRIF Highmark are Punjab National Bank, State Bank of India, Shriram City Union Finance, Edelweiss, SIDBI and more.
CRIF Highmark provides two different types of credit scores – a personal credit score for individuals and business/commercial credit score for businesses to interested people/businesses. This score is a 3 digit number derived from the credit activity of the individual or business, and ranges from 300 points to 900 points. A score of 700+ points is generally perceived as good in the eyes of lenders.