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What is CRIF High Mark?

CRIF Highmark is one of the four Credit Information Companies (CIC) in India. The company has a predominant presence in Europe and India. Founded in 2007, High Mark received a licence to operate as a credit bureau in 2010 from the Reserve Bank of India (RBI). CRIF acquired a majority stake in High Mark in 2014, following which the name in India was changed to CRIF High Mark.

The company offers services for various sectors like Commercial and Microfinance portfolios,

Retail, Agri, and Rural. It provides credit scores and credit reports that are available for individual consumers, commercial (Non-Individuals) and Microfinance segment of applicants.

CRIF High Mark Credit Scores Meaning

Generally, all credit bureaus follow a similar range for credit scores. CRIF High Mark score ranges between 300-900, 900 being the highest. The credit score predicts the probability of an individual's’ default within the next 12 months. A credit score close to 900 indicates that an individual is less likely to default the credit.

Here’s How CRIF High Mark Credit Score is Divided:

  • 300–500 (very low): This score indicates that the customer is at a high risk of defaulting credit and has a bad track record of repayment and poor credit history. There is a high possibility that lenders will not provide credit to such customers.
  • 500–650 (low): A score in this range indicates that the customer has a low score and has delayed and defaulted on payments. Customers who have not been prompt in making payments are still a risk for lenders and hence some of them may not provide loans to such customers.
  • 650–750 (great): Generally, lenders like banks and non-banking finance companies consider a credit score of 750 as ideal. Customers having a score in this range have usually displayed a good repayment behaviour. Moreover, they are also likely to maintain a good balance of secured and unsecured credit score. Such type of customers are ideal for lenders as they have a low risk of defaulting.
  • 750-900 (excellent): Customers having a credit score in this range are considered to be extremely dependable in terms of credit as they have displayed an excellent repayment behaviour and have never defaulted on payments. They have an impeccable record of paying off all the dues and using the credit wisely. Lenders are willing to offer loans to such type of customers.

Differences Between CRIF High Mark And CIBIL

CRIF High Mark and CIBIL are two of the four credit bureaus in the country. Both the credit bureaus offer credit score and credit report to individuals and companies. Let’s check out some of the differences between the two credit bureaus:

  • Price: A CIBIL report along with a CIBIL score cost Rs.550 while a CRIF High Mark credit report and score costs Rs.399 (including GST).
  • Established: TransUnion CIBIL was established in 2000 while CRIF High Mark was established in 2007 and started operating as a credit bureau in 2014.

Product and Services offered by CRIF High Mark

CRIF High Mark offers several products and additional services for consumers and companies.

For Consumers:

  • CRIF High Mark Credit Information report: A consumer credit report has all the information about their accounts, credit history and repayment behaviour. The credit reports help banks and NBFCs to measure creditworthiness and ability of an individual to repay the credit.
  • Microfinance credit reports: It provides a detailed track record of all group loans taken by individuals from lenders such as banks, NBFCs, and Microfinance Institutions (MFIs). Microfinance Credit Reports are generated using our advanced Identity Resolution engine. CRIF’s Microfinance Credit Report can be accessed via Member Portal (HUB) as a single report. CRIF High Mark launched India’s first Microfinance database in March 2011 which the company claims is the world’s largest microfinance database with more than 80 million borrowers.

For Companies:

Commercial Score

Identification and Anti-Fraud services

Predictive Analytics & Scorecards

Additional Solutions:

Deduplication Platform

Business Rules and Decision Management

Collections Management

Loan Origination

External Data Connector

Difference between the credit report and a credit score:

A credit score is a 3-digit number calculated based on the factors like credit history, credit utilisation ratio, etc. It helps the lender evaluate the borrower's creditworthiness. The credit report is a detailed document containing the borrower's name, credit history, outstanding debts, etc.

Key points about the credit score given by CRIF Highmark:

  1. There are two types of CRIF Highmark credit score: Business Credit Score (for commercial entities) and Personal Credit Score (for individuals).
  2. The major components considered while calculating your CRIF Highmark credit score are the length of your credit history, credit mix, credit card applications, credit payment history, and credit utilisation ratio.
  3. The credit score given by CRIF Highmark shows your creditworthiness.
  4. A customer has one CRIF credit report every year for free; thereafter it is charged at Rs. 399 per year.
  5. A CRIF Highmark is a 3-digit credit score that ranges between 300 to 900.

The criteria used by CRIF Highmark to generate a credit report:

  1. Current outstanding debts.
  2. Repayment history.
  3. Credit utilisation ratio
  4. New loan applications
  5. Debt to income ratio.
  6. Credit mix
  7. Length of credit history, etc.

Who can obtain a CRIF Highmark credit report?

Individuals and businesses have access to their own credit reports and credit scores. Other than that, the lenders can request a credit report of an individual/business before granting the loan.

Simple ways you can adopt for a better credit score:

  1. Make sure that all of your outstanding dues are paid on time.
  2. For your credit card, maintain the credit utilisation ratio below 30%.
  3. Having a good credit mix has a positive impact on your credit score.
  4. Avoid applying for multiple credit cards.
  5. Avoid closing old credit card accounts. Try to maintain them with minimum transactions.
  6. Keep a check on your credit score, especially before making major financial decisions like applying for a loan.
  7. Avoid missing payments and get loan servicing done periodically.

Frequently Asked Questions (FAQ)

  1. How can I access my CRIF High Mark Credit Score?
    • Visit the CRIF Portal cir.crifhighmark.com
    • You will see a “Get Your Score Now” button. Click on it.
    • For communication purpose, you will have to enter your email address to proceed.
    • After entering your email address, you will have to enter your full name, date of birth, mobile number, address and Aadhaar or PAN number.
    • Once you submit the information, you will have to answer a security credit question, which will be based upon the records.
    • After answering the security credit question correctly, you can download the credit report from CRIF.
  2. How much time does it take to receive the credit report from CRIF High Mark?
  3. Once you make the payment for a credit report, you can get the online report instantly on your registered email ID.

  4. Are there any other charges I need to pay to get my credit report from CRIF High Mark?
  5. No. You only have to pay Rs.399 (including GST) to avail one credit report from CRIF High Mark. You don’t have to pay any other charges expect the cost of the credit report.

  6. How many free credit reports can I receive from CRIF High Mark?
  7. In 2017, the Reserve Bank of India (RBI) made it mandatory for all the credit bureaus in the country to offer one free credit report with credit score to consumers in one calendar year. Therefore, you can get one free credit report from CRIF High Mark in one calendar year.

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News About What is CRIF High Mark?

  • CRISIL Revises Indiabulls Housing Finance Rating

    Credit rating agency CRISIL has revised ratings of the long-term bank facilities and debt instruments of Indiabulls Housing Finance Limited (IBHFL). CRISIL has changed the ratings from ‘Rating Watch with Developing Implications’ to ‘Rating Watch with Negative Implications’. The ratings of the short-term bank facilities and the short-term debt programme were not changed by CRISIL and have been reaffirmed. IBHFL was under ‘Watch with developing implications’ when the company announced its merger with Lakshmi Vilas Bank (LVB). The ratings agency said that as the merger is nearing its completion, the rating watch has been revised. Th revision in the rating will take place as it is possible that the credit profile of the merged entity as a bank could be relatively weaker than other Crisil AAA rated private banks, at least in the short term,” the rating agency said.

    IBHFL has received approval from the Competition Commission of India for the proposed merger, while it awaits other approvals. Crisil said there could be transitional challenges once the merger goes through, as the entity would need to establish its liabilities franchise to compete effectively with banks. The credit rating agency also added that the ratings continue to reflect its expectation that IBHFL will maintain a strong trajectory in business volume in retail mortgage finance.

    18 July 2019

  • SEBI Urges Credit Rating Agencies to Focus on Risk Factors of Debt Instruments

    Owing to debt defaults from the non-banking finance companies (NBFCs), the Securities and Exchange Board of India (SEBI) is set to put forth a rigorous disclosure regime for credit rating agencies (CRAs). At the time of scoring a particular issuer, the CRAs will now have to specify upfront key details, which they think could lead to a default. In addition to the details, the credit rating agencies should also provide their rationale for their rating. Indian public funds invest in debt instruments after taking into consideration CRAs ratings. Following tighter norms from SEBI, CRAs will now be required to list out sensitive factors, including financials and sectoral details, that could impact the rating of a debt instrument.

    The CRAs also need to describe various probabilities that could eventually lead to a default of the debt instruments. It is expected that CRAs should not only list the basic general risk factors, but also stress on areas specific to the debt issuer. SEBI mentioned in its guidelines,“In order to enable investors to discern the performance of a CRA, vis-à-vis a standardised Probability of Default (PD), benchmark scale, the CRAs, in consultation with SEBI, shall prepare and disclose standardised and uniform PD benchmarks for each rating category on their website for one-year, two-year and three-year cumulative default rates, both for short-run and long-run'. In order to push transparency, the CRA will now have a specific section on ‘Rating Sensitivities’ in the press release that will highlight operating and/or financial performance levels of the debt instruments that could trigger a rating change, upward and downward.

    17 June 2019

  • Reliance Capital says it will cut 50% debt in FY19 post ratings downgrade

    Reliance Capital has protested the recent rating downgrade by CARE. The credit rating agency downgraded Reliance Capital’s long-term debt and subordinated debt rating by three notches from “A” to “BBB”. The Anil Ambani led financial service company has disagreed with the credit rating revision saying the credit rating agency didn’t fully factor in the impact of its plan to raise more than Rs.100 billion ($1.42 billion) via asset sales. The company also stated that it will “sharply cut” its overall debt by more than half this financial year.

    Reliance Capital expects to realise minimum proceeds of over Rs.10,000 crore and sharply cut its overall debt by more than 50% within the current financial year. The credit rating agency stated that the company’s financial risk profile is characterized by factors such as depletion of liquidity and high dependence on planned disinvestments for debt servicing. The company’s credit score was downgraded due to the defaults by subsidiaries Reliance Home Finance Ltd and Reliance Commercial Finance Ltd. This could take a toll on the group’s financial flexibility and diminish Reliance Capital’s ability to raise funds from the market.

    21 May 2019

  • RBI is worried about the role of credit rating agencies

    Last week, it was reported that the Reserve Bank of India (RBI) may not allow credit rating agencies to play dual role of being advisor-cum-rating agencies for companies. RBI governor Shaktikanta Das raised his concerns in a recent meeting about the dual practice of rating agencies to rate a bond as well as decide its valuation. The concern is serious as these ratings are used by mutual funds (MFs) to calculate the net asset value of a MF scheme.  The governor stated that credit rating should be treated as a different business which should not have revenue as the primary objective.  

    Credit rating companies in the country have come under the scanner following the IL&FS debt scam that first emerged in October 2018. The company’s credit rating was downgraded from AAA (higest rating) to ‘D’ default) in little over a month. About 25,000 companies are rated in India, of which half are estimated to be below ‘investment grade’. It was suggested that SEBI or RBI should play a role in the reappointment of an agency by a corporate to avoid this conflict of interest. 

    19 March 2019

  • Hudco receives Baa2 rating from Moody’s

    According to the latest data released by the Reserve Bank of India (RBI), bank deposits has recorded an increase of more than 10% on a year-on-year (y-o-y) basis during the fortnight ended February 15. Bank deposits have seen the surge in the depos for the first time in nearly one-and-a-half years. Banks have been facing a tough time to ramp up their deposit figures owing to the rise in levels of cash in the system and the movement of household savings into mutual funds. As on February 15, the value of deposits with banks stood at Rs.121.21 lakh crore. This was increase by 10.16% y-o-y. The last time deposits grew faster was during the fortnight ended August 4, 2017, when the value of banking-system deposits was Rs.107.04 lakh crore, up 10.27% y-o-y.   

    A latest report from the credit rating agency CRISIL revealed that banks need fresh deposits worth Rs.20 lakh crore to meet loan demand. This essentially means, banks will need to ramp up their deposits by around 10% on an annualised basis, a full 400 basis points (bps) higher than the 6% growth seen in FY18. Meanwhile, earlier this week, India Ratings revealed in a report that if credit growth continues to outpace deposit growth, then banks’ reliance on bulk deposits is likely to increase. This move could lead to a higher cost of funds, along with increasing volatility in the asset-liability structure of banks. The competition for deposits could intensify further as a result of six banks under the RBI’s prompt corrective action (PCA) exiting the framework. 

    18 March 2019

  • CRISIL Report: RBI’s standard to help create 1.4 lakh crore headroom for bank credit

    A latest report from CRISIL credit rating agency has revealed that the Reserve Bank of India’s (RBI’s) move to align risk weights of banks’ exposure to non-banking finance companies (NBFCs) with their respective credit ratings will help banks create a headroom of Rs.1.4 lakh crore for the baking system. At the beginning of February, the RBI had eased its guidelines for banks to maintain risk weights for non-banking finance companies (NBFCs). As per the new norm, the exposures to the Core Investment Companies (CICs) will still be risk-weighted at 100%. The credit rating agency’s report stated that the release of capital for banks should increase deployment opportunities for banks as it enhances funding access for NBFCs. Of the Rs.1.4 lakh crore headroom, banks could deploy a major chunk towards higher rated NBFCs given the lower risk weight for these entities 

    Vydianathan Ramaswamy, Associate Director, CRISIL Ratings said that as per the agencies’ analysis, the top 30 NBFCs which cover more than two-third of the NBFC asset base suggests that around 60% of them will be benefited from the RBI move. The will happen mainly because NBFCs risk weights will drop to in the range of 20-50% as compared to 100% earlier. As of December 2018, the bank debt to the NBFC sector has registered a compound annual growth rate of 20% in the past decade. It has touched a high of 55%.  

    6 March 2019

  • SEBI Declares IIFL Holdings as not “Fit and Proper”

    The Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal Financial Services and India Infoline (IIFL) as not "fit and proper" in the National Spot Exchange Ltd (NSEL) case worth Rs.5,600 crore, as per a report from IANS. The authority has declared both that both the entities are not the fit and proper" to act as commodity derivative brokers. SEBI is probing around 300 brokers for violation of rules colluding with the NSEL to defraud investors. The authority body has also ordered both Motilal Oswal and IIFL to transfer securities of all their clients and allow withdrawal within 45 days of the order. The rulings have come against the backdrop of the payment scam at the NSEL that came in the forefront in 2013. Following the scam several entities, including brokers, have come under the scanner of SEBI and other probe agencies. IIFL is all set to appeal against SEBI’s order.

    27 February 2019

  • CARE downgrades DHFL debt worth Rs.1.2 lakh crore

    CARE Ratings downgraded Dewan Housing Finance Corporation Ltd. (DHFL’s) debt worth Rs.1.2 lakh crore. The debt includes the housing finance firm’s bongs, non-convertible debentures, fixed deposit program and long-term bank facilities. As a result of the falling debt worth, DHFL’s suffered a setback last week in the stock and corporate debt markets. “DHFL’s ability to raise resources at competitive rates would be crucial for its profitability and long-term growth prospects going forward,” CARE Ratings said in a statement. CARE has downgraded the rating from ‘AAA’ (outlook: stable) to ‘AA+’. The downgrade of the rating has been attributed to moderation in the DHFL’s financial flexibility owing to a sharp reduction in its share price and significant rise in bond spreads. 

    The credit rating agency CARE has placed the ratings under credit watch with developing implications in light of recent events and will continue to monitor the situation. In the case of other instruments such as subordinated debt (?2,205 crore) and non-convertible redeemable cumulative preference shares (?750 crore), the rating has been revised from ‘AA+/ stable)’ to ‘AA’. The latest downgrade comes after Cobrapost alleged DHFL of a fraud worth Rs.31,000 crore. The investigative new platform claimed that DHFL gave loans to ‘dubious’ entities linked to the promoters who were the ultimate beneficiaries of the funds.

    4 February 2019

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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