Credit bureaus rush in sensing growing opportunity

Banks will soon have greater choice in selecting their source of information as more credit bureaus seek a share of the growing number of financial product users in India, the world's second -fastest growing major economy,after China.While new bureaus would get an opportunity to tap the large economy,some analysts say the competition could force some of the bureaus to focus on niche,besides constantly improving products and operating on thinner margins.The first and currently the most dominant ,Credit Information Bureau(India)Ltd. or Cibil,may soon be jostled by at least three others entering the Indian market,including ExperianPic.,Equifax Inc.and High Mark Credit Information Services.(BS23082010)