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 […]

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. […]

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 […]

To reform NPA under Credit Risk Management in banking sector, it is essential to collect Credit Information of borrowers as a first step and In this context the requirement of an adequate, comprehensive and reliable information system on the borrowers through an efficient database has been felt by Reserve Bank of India, the Central Government, […]

  Let’s see here what habits of people make them achieve 750+ credit score and make them in the top priority list of creditors when it comes to sanctioning loans or credit cards. They know their score They set up auto-pay Low credit card limit uses They pay balance in full They know when to […]

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 […]

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 […]

The model categories the entity into broadly three categories, namely: CMR 1 to 3: A good track record and/or no amount overdue. CMR 4 to 7: Delinquent but never an NPA CMR 8 to 10: Good chance that the asset will turn into an NPA over the course of the next 2 years. CMR 1 means Lowest Possible […]

You have knowledge about the credit report and what it contains, you might wonder where all this information comes from, and how the information in the credit report is complied. We are now going to explain the answers for the above questions. The details primarily come from lenders, creditors and collection agencies. Every month lenders, […]

Your credit report is the only source to check your credit history for creditors and this is the first thing creditors or lenders check while you are applying for a loan or credit card. What someone finds listed on your credit report will directly impact your credit approval or rejection.  The three digits in your […]