RBI suggests awareness should be created regarding credit scores
By Ankit Sharma
Dec 5, 2013
Print    Email    RSS   

Credit Information companies have been requested to create an awareness to their customers about the credit scores and credit behavior in order for better finance management by the Reserve Bank of India.

The RBI's Regional Director (Chennai), J. Sadakkadulla, on Tuesday stated at the fourth annual CIBIL Credit Information Conference that for masses to benefit from the financial system with the help of credit intermediation, and to reduce the cost of transaction financially. This can be accomplished by facilitating a smooth process of credit decision making.

Then again, he called attention to that however India has an expansive workforce with climbing disposable earnings, the degree of credit entrance is still very low in contrast with the standards globally. One of the explanations behind this is the data asymmetry between the loan specialist and the borrower. Emphasizing the need for a real database, he urged booked business banks, non-saving money account organizations and lodging fund organizations to submit exact information on standard premise.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

A Good credit score imperative for your...
Kisan Credit Card: Allowing easy credit...
Carnival of Indian Personal Finance Blogs #5
Disputing errors in a credit report
Petro Cards 101: A detailed guide

How to change PIN number of my credit card
i want to check my status about sibil.
what is my credit card statement
i forgot my ATM pin number i could i get it again
how to improve my CIBIL score???

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