Is CIBIL really giving one free report

Just read in the news recently that CIBIL and other bureaus like Equifax etc will have to give one free credit report free to customers every year.

  • Is this true?
  • Is this a proposal or already live?
  • And will this be a special report or the usual detailed report?

Any one has more info on this. Pls share.

  • Abhinav

    Yes. As per the reports, its now an RBI mandate starting FY 2017 for credit bureaus to send across one Credit Report free to customers every year.

    What I am not aware of is whether this is a detailed report or a summary one.

    My sense is that this step would create a phenomenal increase in the general awareness about credit scoring, credit bureaus and credit reports. And in the short term it will help the bureaus and credit improvement companies make more money.