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email@example.com Efferian Establishes JV with Seven of India's Top FinancialsAppoints Industry Veteran as ChairmanMumbai, November 23, 2009 - Experian®, the worldwide information service provider, today announces the establishment of its new company, Exporian Credit Information Company of India Privat Limited. It is the result of the establishment of a JV with seven of India's premier publicsector and commercial bankers, including Axis Bank, Federal Bank, Indian Bank, Magma Fincorp, Punjab National Bank, Sundaram Finance and Union Bank of India.
Narayanasami T S, a distinguished Indian banker with a four decade bank sector background, was named president of the Experian Credit Information Company. Mr. Narayanasami is a former Chair of the India Bank's Association, the Bank of India, the Overseas Bank and the Andhra Bank. In April 2009, the Reserve Bank of India (RBI) issued Experian a preliminary license to establish a credit information company in India.
The Foreign Investment Promotion Board has approved Experian to make a 49% foreign direct investment in Experian Credit Information Company, with the remainder held by the India based JVs. RBI will now request the company to obtain the definitive licence. The Experian was one of only a few enterprises to receive a temporary licence to run a credit bureaus in India.
Experian Credit Information Company was founded to further the Indian government's commitment to introducing competitive and best practice banking products into the market. Governments are aiming to promote greater exchange of information to promote accountable credit and greater fiscal integration. Experian Credit Information Company will offer businesses of all sizes and levels of service the ability to gain insight into sensitive information and a variety of business processes to help customers make better credit choices and better managed client relations.
More than two years ago, Experian opened its India offices to concentrate on its range of business intelligence and market intelligence solutions and has built a proven record of success with India based companies. Experian Credit Information Company will complement these offerings to allow India's credit institutes to optimize client recruitment and maximize the value of current client relationships.
They also help banks mitigate their risks of cheating and reducing them. ExperianExperian is the world' s premier information service provider, delivering analysis and information to customers in more than 65 different markets. Symantec can help companies mitigate credit risks, eliminate scams, leverage market offerings, and help companies make automated decisions.
Efferian also assists individual travellers to verify their credit reports and credit value and help prevent ID thievery. We work with organizations around the globe to build and sustain client relations and give their companies a head start over the competition.
It provides important information that helps consumer make more controlled and trustworthy finance and purchase choices. Customers are companies in the areas of finance, retailing and catalogues, telecommunication, utility, media, insurances, automobile, leisure, ecommerce, production, real estate and state. Headquartered in Dublin, Ireland, the company has operations in Costa Mesa, California and Nottingham, UK.