NEWS & ADVICE : CREDIT CARDS
Know if you are in CIBIL’s list of defaulters or not
By Ankit Sharma
Print    Email    RSS   

Many people have at some time or the other faced the problem of being denied a loan or a credit card on grounds of not being eligible for the same due to bad credit history. Often people are unable to understand why their name is in the list of defaulters and ways to remove their names from the same.

Credit Information Bureau (INDIA) Limited (CIBIL) is the central repository of credit information of all borrowers. It contains data of the credit history of all borrowers associated with the member banks/financial institutions.

When a borrower approaches for loan to a bank, the bank first gathers a Credit Information Report (CIR) of the borrower from CIBIL and on the basis of that judges the credit worthiness of the borrower and decides whether to grant him credit or not.

CIR is a factual report which gives an idea on the credit payment history of the borrower which has been compiled from information collected from different credit grantors based on a scorecard model. It helps banks to prevent the risk of bad loans by lending to non credit worthy borrowers.

A control number is generated every time a CIR is requested from CIBIL by the bank. Control number refers to a nine digit unique number which enables CIBIL to track an individual's credit report from its database.

Every time bank seeks for credit report of an individual from CIBIL, a new control number is generated.

How can one check his Credit Information Report (CIR)

Every individual has the right to access his Credit Information Report (CIR). It is through this that a person can check and analyze whether he is in the defaulter list of the concerned bank or not.


Page  | 12 |  
(Comments Posted : 1274) Post Your Comments
1. wh0cd41779 Augmentin Suhagra sildenafil pfizer
CharlesLib (Posted: May 27, 2017)
2. wh0cd793747 purchase tetracycline lisinopril arimidex generic eurax buy albuterol
Tracyspusa (Posted: May 27, 2017)
3. wh0cd65539 look at this tenormin 50mg prednisone price where to buy motilium vardenafil
Aaronimiva (Posted: May 27, 2017)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Make more out of your credit card with...
Safety tips to use plastic money online
CIBIL and its role in credit risk management
Guidelines to apply for a NRI Credit Card
Factors affecting car insurance premium


I want my credit card statemet
i forgot my userid for sbi credit card how to open...
How can I clear my CIBIL PROBLEM?
what is my credit card statement
i forgot my ATM pin number i could i get it again
how to improve my CIBIL score???

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive