CA Pankit Shah

How Your CIBIL Report Can Help You - or Hurt You It is used as an indication of trustworthiness by lenders, who use the number as a way to help predict how you'll treat their credit line based on your financial history. "  Knowing someone's score is important, but it's much more important to know someone's attitudes toward money ,"   Pam Friedman, certified financial planner "  Generally, the higher the number, the more trustworthy you appear to lenders. The lower your score, the more difficulty you will face. But it's not just lenders who may take your credit score into account - surveys and studies have found your credit score can affect everything from whether you're able to rent an apartment to who may be willing to date you. Here are Four ways your credit score can impact your life:   It affects the interest rate on your mortgage   :-                         ...

Over the past few years, Retail lending has become the focus of the banks and the NBFCs on account of the contrasting fortunes of commercial and retail credit. In contrast to the trends of slowing growth and rising delinquencies trends exhibited by the commercial lending space, retail lending has exhibited significant robust growth accompanied by declining delinquencies. The purpose of this article is to illustrate the ways in which the success of retail lending has been driven by the change in   business model driven by the advent of Credit Bureaus like TransUnion CIBIL and the concomitant usage of technology.   Credit Bureaus have facilitated the transfer of comprehensive consumer information to all consumer lenders by institutionalizing the process of information sharing. Further, they have taken the lead in building credit scores – statistical algorithms that enable the usage of comprehensive consumer information to rank-order  consumers according to user-d...