Tata Capital, Equifax Inc and CRISIL have reached a preliminary understanding to develop plans to create a credit information company in India, announced the companies on Tuesday.
To create this joint venture, Equifax has applied to the Reserve Bank of India (RBI) for operating a credit information company.

Tata Capital Limited is a wholly-owned subsidiary of Tata Sons Limited, the apex holding company of the Tata Group.

Headquartered in Atlanta (USA), Equifax Inc’s revenue for 2007 stood at $ 1.84 billion. With this strategic partnership to form a company, Tata Capital is confident to leverage Equifax’s global expertise in technology, data assets and analytics and offer a comprehensive credit and information management operations in India, said the company in a statement.

CRISIL is India’s major ratings, research, risk and policy advisory company. CRISIL’s majority shareholder is Standard & Poor’s, a division of the McGraw-Hill companies and the world’s foremost provider of financial market intelligence.