Credit Information Bureau Ltd reported that after a survey they have noticed that after being hit hard and following the drop off in 2008, now banks are back in their position. The banks are now actively lending out loans and new credit cards to their customers. Retail lending has gone up to 150% since last three years.
CIBIL data reported that a large share of the new borrowers accounts for youngsters. All over the country only 5% senior citizens are there in list of borrowers. CIBIL maintains the financial record of the customers, on the basis of that banks provide any loan to the customer. Only the people with good CIBIL record get loan from the banks. The people scoring above 700 from 900 are in best category.
CIBIL data showed that in 2008 banks provided loan to 26% people who were scoring more than 800, in 2013 the number rose to 62%. Further the people falling in worst category who got the loan accounts for 6.1% in 2008, in 2013 it dropped to 2.5%.