CIBIL

Notably, 81 per cent of consumers from non-metro regions began monitoring their credit within six months of their first credit product

The availability of enriched and timely credit data and rapid implementation of digital lending infrastructure has contributed significantly towards enhancing lender confidence, it said

The CMI is a comprehensive measure of data to analyse changes in credit market health, categorized under four pillars: demand, supply, consumer behaviour, and performance

The Reserve Bank of India on Monday said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms. A monetary penalty of Rs 30 lakh has been imposed on Standard Chartered Bank-India for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016'. Also, a penalty of Rs 26 lakh has been imposed on TransUnion CIBIL Limited, Mumbai for non-compliance with certain provisions of the Credit Information Companies (Regulation) Act, 2005 [CIC (R) Act], according to releases. RBI has slapped a penalty of Rs 24.25 lakh on Equifax Credit Information Services, Mumbai for non-compliance with certain provisions of the CIC Rules. Among other entities, a fine of Rs 24.75 lakh has been imposed on Experian Credit Information Company of India, Mumbai for non-compliance with certain provisions of the CIC (R) Act. Further, a penalty of Rs 25

Start by reviewing your credit report and identifying the late payment entry. Understand the impact it has had on your credit score and how it may affect your overall creditworthiness.

Banks are in a bind as Kerala High Court directs them to exercise more compassion with students, as guarantors frequently default on education loan repayments

Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said banks asking for CIBIL score from farmers before allotting crop loans would face FIRs. If a bank is found asking CIBIL score from farmers seeking crop loan, then an FIR should be filed against such bank. A decision is already taken by the state-level banking committee that the CIBIL score condition cannot be applied during crop loan disbursement. The Reserve Bank has also issued a circular regarding the same," Fadnavis told reporters in Amravati after holding a kharif season review meeting for the eastern region of Maharashtra. He said if some banks are going to harass farmers unnecessarily, then the government will have no other option but to register an FIR against such banks. He said some banks in Amravati have diverted the subsidy amount deposited into the bank accounts of farmers towards loan repayment. Not all the banks have been doing it, but some banks in Amaravati are found indulging in such practices. I h

CMI findings show a marked increase in demand for credit cards and personal loans, indicating growing adoption of consumption-led credit products that provide convenience and liquidity

Credit card growth does not conflict with real-time payment systems, but complements them and offers consumers more payment options

With the intent of deepening credit flow to small businesses and also helping lenders avoid loan losses on such bets, credit information company TransUnion Cibil on Tuesday launched a ranking system for MSME borrowers. The 'FIT Rank' launched by TransUnion Cibil in association with Online PSB Loans, will rate the over 6 crore micro, small and medium enterprises (MSMEs) by drawing inputs from their current accounts, income tax returns and also Goods and Service Tax (GST) returns to arrive at a score between 1-10 to rate a borrower after taking consent to draw the relevant data. Cibil's managing director and chief executive Rajesh Kumar told reporters that the ranking will give lenders an idea about the capacity of an enterprise to pay, its creditworthiness and also intention to pay from past experience. Till now, the leading credit information company (CIC) had the Cibil MSME Rank model in the market which was taking inputs from past loans, but new to credit customers were left ...

Viewing it often will also help you detect identity theft early

Impact NBFCs will need Rs 58,000 crore equity, according CIBIL assessment

BNPL, small-ticket consumer loans are other options to build credit history

An additional 164 million were classified as 'credit underserved' in the global study done by Transunion Cibil, while only 179 million fit into the 'credit served' category

Around 480 million adult Indians till the age of 65, representing half of the overall population in the earning segment, are 'credit unserved'

The pandemic year saw a marginal fall in the number of cases marked as wilful defaulters by banks

The apex bodies representing the dealers have appealed for relief from all vehicle makers, who are yet to announce a similar financial package like last year

Although year-on-year growth across key metrics has yet to reach pre-pandemic levels, there has been positive momentum for credit demand

In home loans, inquiry volumes were at 112 per cent of July-August 2019 levels

Unlike the slowdown a decade ago, demand for credit cards and personal loans will remain as consumers look to secure funds to bridge gaps in personal finance.