Types of Credit

Credit is not of one type and has different purposes to use it in different verticals of life and business. There are primarily two types of credit which is, Secured Credit means the credit that requires you to pledge something of value in order to secure the loan. In banking terms, this is called collateral. For […]
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Lending System in Banking Industry

In earlier phases lending and borrowing depended on personal approach which meant possibility of bias gesture was part of it. In ancient Greece and Rome around 3000 years ago, the lending system originated and pawnbrokers lent by collecting collaterals from the borrowers, to reduce the risk of the lenders. This system was followed by an […]
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Global Scenario of Credit Bureau

The World Bank has supported the development of credit reporting systems around the world for more than decades. The International Finance Corporation’s Credit Bureau Knowledge Guide (IFC 2006) provides an overview of experiences in developing the capabilities of private credit reporting institutions through public private partnerships and institutional innovation. The World Bank’s General Principles for Credit Reporting […]
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Importance of Credit Reporting System

Access to finance is essential for economic growth and job creation. We cannot deny the fact that a well–functioning financial system offers a variety of products such as savings, credit and risk management etc to individuals as well as businesses. This not only works better for urban but for rural areas as well, they can […]
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A Credit Bureau and a Credit Rating Agency are the same

Credit Bureau and Credit Rating Agency are distinctly different. The only similarity is the six letter word “CREDIT”. Credit Bureau Credit Rating Agency It collects, maintains and stores information related to your credit history. It assesses debtor’s ability and willingness to payback debt by making timely payment of interest and principal on a debt instruments. […]
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History of Credit Bureau

You must be wondering where the credit bureau comes from, who had shaped this idea and so on. Everything in this world can be traced back to some root, and same goes for the credit bureau that goes back to few alternative systems which evolved into the model that is being operated today. In this […]
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Loans and Your Credit Score

Loan needs no introduction now–a–days, as most people have taken some loan at some point of time in their life, to meet their financial needs. Loan is an amount of money borrowed by a borrower from a bank or financial institution, for a fixed period of time. A loan is essentially a debt which has […]
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4 Ways to improve Credit Score

Let’s see some ways that will help you to improve your credit score. Avoid multiple credits Do not have lots of debt which you cannot handle. Before having any new loan or credit card, check your Debt–to–Income ratio to know whether you are able to handle repayment or not. Do you have sufficient funds or […]
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