What is a CIC (credit information company)?
A credit bureau.
CIBIL TransUnion, CRIF High Mark, Experian and Equifax. Lenders both pull credit reports from them and submit the performance of their own borrowers to them, on a prescribed format and cadence.
Why does CIC matter?
The submission obligation is the one that gets forgotten, because nothing in the day's work depends on it and a lender feels the consequence only when its own borrowers' records are wrong somewhere else.
What the regulations say about CIC
The Credit Information Reporting Directions, 2025 set a fortnightly cycle. For NBFCs an amendment goes further from July 2026 — four reference dates a month, plus a full file.
What a lending system has to do about CIC
Bureau pulls are recorded against the application with the report attached, so what was seen at the time of the decision is still there at the time of the audit. Submission files are generated on the prescribed format.
Related terms
- CKYC — The central KYC records registry.
- DPD (days past due) — How many days an instalment has been overdue.
From the people who wrote this
Run your lending on Lenviq
The section above describes what a lending system has to do about this term. Lenviq does it — on every account, computed at day-end, with the direction it comes from recorded against it.
Lenviq is loan origination, servicing and accounting for NBFCs, built by FastLegal Technologies.