Cibil

TransUnion CIBIL CEO Rajesh Kumar quits; Bhavesh Jain elevated as successor

Credit information company TransUnion CIBIL Ltd on Thursday said Rajesh Kumar, its chief executive and managing director for the past five years, has resigned "recently". The credit information company said it has elevated Chief Revenue Officer Bhavesh Jain to the position vacated by Kumar, who resigned citing personal reasons. The timeline for Kumar's departure and Jain's transition into the new role was not specified. The announcement of the top executive's departure comes days after Congress MP Karti Chidambaram criticised TransUnion CIBIL in the Lok Sabha, and blamed the company for being non-transparent. Chidambaram had said the "Cibil score" highlighting an individual's credit history has grown to have a big influence on banks while they make lending decisions but there is a lack of transparency. "Nobody knows how Cibil as an organisation works, we do not know whether they are updating our credit history properly. there is no transparency, there is no way for us to appeal, a

India's credit self-monitoring grows by 51%: TransUnion CIBIL report

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

MSME loan portfolio's delinquency rate down to two year low of 2.3%: Report

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

Retail loan origination moderates in Q2 as lenders tighten credit flow

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

RBI slaps penalties on Standard Chartered Bank-India, other entities

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

How you can rebuild your credit score even after late payments

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.

Educations loans cannot be denied due to low CIBIL score: Kerala HC

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

Banks insisting CIBIL score of farmers will face FIRs: Maharashtra DY CM

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

Home loan demand declines, special interest rates to continue

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

A powerful tool for democratising credit access

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

Cibil launches MSME borrower ranking to deepen credit, avoid sour loans

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 ...

Monitor your credit report regularly as improving score takes time

Viewing it often will also help you detect identity theft early

Limited bank funding drags Impact NBFCs' growth: CIBIL assessment

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

New-to-credit customer? Opt for a secured credit card, say experts

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

Despite policy efforts, half of Indian adults 'credit unserved': Report

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

Despite policy efforts, half of Indian adults 'credit unserved': Report

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

Wilful defaults fall marginally in pandemic-hit FY21: TransUnion CIBIL data

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

Vehicle registrations fall 54.79% in May, sales across categories dip 66%

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

Demand for retail credit makes a comeback in November: CIBIL report

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

Home, auto loan inquiry back to 2019 level, yet to reach pre-Covid mark

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