rediffGURU Ravi Mittal, CEO of Quack Quack, an online dating Website and Rebounce, a matchmaking matrimony platform, counsels a young man on how to approach the situation with sincerity.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
There is a need for real-time or near real-time credit reporting, instead of the current fortnightly system, to improve underwriting precision, enable timely reflection of borrower actions such as loan closures or repayments, and deliver a superior consumer experience, Deputy Governor of the Reserve Bank of India (RBI), M Rajeshwar Rao said on Wednesday.
'This helps the consumers secure more favourable terms from CIs.'
The plan is to offer the ratings of drivers to insurers, which can then customise their premiums -- a higher score meaning a lower premium, for instance, and vice-versa.
Overall automobile retail sales in India grew a modest 2.95 per cent in April this year to 22,87,952 units with completion of purchases by customers around Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu helping April end on a positive note, Federation of Automotive Dealers Associations said on Monday.
Answers to six commonly asked questions about CIBIL score that will help clear your confusions
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Towards the end of February, the Reserve Bank of India (RBI) restored the risk weighting on banks loans to non-banking financial companies (NBFCs; including to microfinance institutions, or MFIs) to 100 - back to its November 2023 position - from 125. It is only a partial relief though. "Higher risk weighting on unsecured lending continues to be in place while the same on bank funding to NBFCs has been done away with. "This is a positive step by RBI," says Rajiv Sabharwal, managing director (MD) and chief executive officer (CEO), Tata Capital.
Here's the formula and it is not too difficult to implement.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
Middle class Indians have grown up with the belief that living on credit is essentially a bad thing. You are in trouble if you think the same, cautions Rajiv Raj
Do you know what is 'credit repair'? And how to go about it?
A healthy CIBIL Report and a high CIBIL TransUnion Score indicates that you are managing your loans and credit relationships well and are financially savvy
The difference between Cibil and other marketplaces is that in the case of the latter the credit report is accessed after the customer clicks the loan offer, while in the case of Cibil the customer first checks the credit score and then applies for the loan.
Do not panic if you have a poor credit score. Do not live with the fear of having an important loan rejectd by the lender because of a poor credit score. Here's the solution for your woes
Few right moves and you can improve your credit score real fast
Here's a quick glimpse into what goes into the making of a person's CIBIL TransUnion Score
Some simple tips can help you in better understanding of your CIBIL Report.
Guaranteeing a loan requires careful analysis before making the decision; you should not guarantee a loan just because a friend or acquaintance has asked you to do so, warns Rajiv Raj
Just like optimum blood pressure, sugar and the likes are the measure of your physical health, a good CIBIL score is a measure of your financial health and you must do the needful to keep your CIBIL score at a satisfactory level.
The 'DPD' indicates how many days a payment on a respective account has been delayed. Simply put, it's trouble for the borrower
Do you know that your application can get rejected on account of a not so perfect CIBIL score?
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
If you have a CIBIL score that is below the satisfactory level of 750, make a resolution this day of spring to enhance your CIBIL score. Here are some ideas that will give your CIBIL score a boost.
The Reserve Bank of India on Thursday said the newly operationalised Credit Information Bureau (India) Ltd will publish a list of defaulters of Rs 1 crore (Rs 10 million) and above.
You may forget about your mistakes but CIBIL keeps an eye and maintains a record of each and every transaction right from your first credit card!
What's a job got to do with your CIBIL score? Surprised? Well, here's the connection
The Cibil TransUnion Score 2.0 will grade customers on a risk index ranging from 1 to 5, with 1 denoting the highest risk and 5 the lowest risk of default.
Here's why it happens and how you should avoid it.
Harshala Chandorkar, Senior Vice President -- Consumer Relations, Communication & CIC Compliance Credit Information Bureau (India) Limited (CIBIL), answers your credit card queries.
2016 has just begun and the first festival of the year is already here. Makar Sankranti it is! On this occasion let's think about how to get our kites and CIBIL scores to soar high
Not being aware of your spending patterns or going overboard with your festive season spends on your credit card can land you in serious trouble later.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
Sujata Ahlawat, Senior Vice President and Head of Direct-to-Consumer Interactive, TransUnion CIBIL, offers a quick glimpse into what a CIBIL Score is, the factors that impact it, and tips for maintaining a healthy score.
You can even check your CIBIL status or credit history by yourself. This can be done online by just logging on to www.cibil.com and submitting certain details.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds.
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