Finance : The evolution of India’s financial architecture is increasingly defined by the tension between rapid digitisation and the persis...
Finance : Education loans help students pursue higher studies without financial stress. However, lenders carefully assess your eligibility, ...
SEBI : SEBI proposes omitting technical defaults from CRA guidelines to improve rating accuracy and consistency, preventing unintended ma...
Fema / RBI : आरबीआई और सिबिल स्कोर बनाएं सिरदर्द: अब आरबीआई और ...
Finance : If you're trying to apply for a personal loan with a low credit score, the first step is understanding exactly what a credit score...
Finance : The consultation paper proposes making credit rating withdrawal provisions principle-based rather than limited to specific situati...
SEBI : The proposal allows credit rating agencies to rate instruments under other regulators even where no formal guidelines exist. This ...
Finance : The government addresses concerns about CIBIL scores, detailing how credit information companies are regulated and the steps taken...
Fema / RBI : Explore challenges faced by first-time borrowers and informal sector workers due to limited CIBIL scores, and measures to improve ...
CA, CS, CMA : It is hereby clarified that under the provisions of Chartered Accountants Act,1949 it is not permissible to members to share clien...
Income Tax : The Court directed issuance of a new PAN after a duplicate allotment caused the petitioner’s financial record to be linked to an...
Corporate Law : Kiran David Vs Assistant General Manager State Bank of India (Kerala High Court) The petitioners are aggrieved by the denial of ed...
Finance : The issue under consideration is whether the writ petition filed against credit rating agency by stating that they are not authori...
Finance : In the present case, the education loan application had been declined on the ground that the CIBIL report of the petitioner's fath...
Corporate Law : The Finance Ministry has permitted Aadhaar-based authentication for accessing credit information reports, subject to user consent ...
Fema / RBI : RBI mandates new credit info reporting rules for institutions post-license cancellation, ensuring borrowers' repayment histories r...
Fema / RBI : RBI directs Credit Institutions to report credit information to Credit Information Companies fortnightly, effective January 1, 202...
SEBI : SEBI's circular authorizes Credit Rating Agencies (CRAs) to conduct ratings in IFSC-GIFT City under IFSCA guidelines. Learn implic...
SEBI : SEBI updates Credit Rating Agencies Regulations, defining "liquid asset" and ensuring effective rating processes. Learn about the ...
Life is tough for 35-year-old Sachin Shinde who moved from Solapur to Mumbai about five years back. Working as an executive assistant of a film director earns him just about enough to survive in a big city like Mumbai where his dream is to give his daughter a good education.
If only HDFC did not check his background they would get a loan smoothly. If only HDFC would understand that the Motwanis had every intention to repay their debts. Priya was in tears when their loan application was declined due to Jitesh’s bad CIBIL score.
A good credit score is of optimum importance when you apply for a home loan to buy that house you always dreamed of living in. If you want a hassle-free home loan approval, you must have a credit score of 700 and above.
For every home buyer, the most important thing is to get the home loan application accepted by the lender. But this can be challenging for a person who has a low CIBIL score. And most people learn that after their home loans are rejected.
WEF 01.01.2017, all Credit Information Companies shall provide, upon request provide a Free Full Credit Report popularly known as CIBIL report
The information contained in the CIR (which contains credit score) would be one of the factors that banks would consider before granting any credit facility to a prospective borrower. However, it will be the commercial judgment of the concerned credit institution to grant loan or other wise to such borrowers based on their Board approved policies.
Circular covers following- 1. Formulation of Rating Criteria and rating processes and public disclosure of the same.2. Accountability of Rating Analysts
A credit score is a rating assigned to an individual on the basis of their credit report. The credit report is a summary of the debt held by an individual, the amount of credit that he or she may have availed in the form of loans or credit cards, the repayment history of the individual, the defaults on any payments, the number of credit applications made to different banks or NBFCs, and the utilisation of credit limits.
How do you know whether you are classified as a wilful defaulter? Quite simply, if you fit into any of the above four categories, as per the RBI definition you do. But if you’re unsure as to where exactly you fit in, your best bet would be to call for a copy of your credit report and go though it at length.
Entrepreneurship is a dream that many young people in India harbour these days. Recognising the need to support the new wave of entrepreneurship there are many programmes, incubators and contests that serve as a launch pad for many a young entrepreneur who is offering a unique service or product.
