Shri. M.V. Nair appointed as Chairman of CIBIL

Mumbai, October 12, 2011
Credit Information Bureau (India) Limited (CIBIL), today announced that Shri. M.V. Nair has been appointed as the Chairman of CIBIL. Shri. Nair is currently the Chairman & Managing Director of Union Bank of India and a member on the Management Committee of the Indian Banks Association (IBA).

Commenting on his appointment Shri M. V. Nair has said “CIBIL’s exemplary growth in the last decade as India’s pioneer Credit Information Company is highly commendable. CIBIL has definitely set highest standards of credit information service in India and I look forward to further add value towards CIBIL’s evolution in the future.”

Shri. Nair holds several significant responsibilities in the Banking and Finance sector in India. Along with leadership on boards of several leading banking bodies, he presides on some significant initiatives on banking and finance spearheaded by the RBI and the Government of India.

Further, commenting on this development, Mr. Arun Thukral, Managing Director, CIBIL said, “Shri. M V Nair’s rich experience and expertise will provide CIBIL with necessary insights and guidance for further strengthening the credit information service in our country. We are confident that under Mr. Nair’s counsel CIBIL will strengthen its position and become the world’s leading Credit Information Bureau in time to come.”

CIBIL’s database today exceeds 207 million records of credit histories on individuals and businesses. Its member base has grown to over 650 members comprising of banks, financial institutions, NBFC’s, Housing Finance Companies, Credit Card Companies and other credit institutions.