High Mark Credit Information Services becomes CRIF High Mark post share sale

KOLKATA: High Mark Credit Information Services Private Ltd changed its name to CRIF High Mark, post the acquisition of majority stake in the company by Italy-based CRIF.

The credit information bureau announced this development Tuesday.

CRIF, earlier a strategic investor in High Mark, increased its holding in June this year, after Reserve Bank of India allowed foreign investment up to 74% in an Indian credit bureau.

“With CRIF holding majority stake, it is only logical for us to rename High Mark and capitalise on the international brand value that CRIF brings to the table,” Kalpana Pandey, CEO & MD, CRIF High Mark, was quoted saying in a press statement.

“We hope to benefit from their international expertise and implement some of their best practices to help us provide better service to our clients,” said Pandey.

The rating bureau acquired the licence from Reserve Bank of India in 2010. It said it has a database of more than 440 million Inpidual and nearly 15 million MSME/commercial records.