Have you ever been rejected for a loan or some other form of credit (such as a credit card) and then wondered why your case was rejected? Though a financial institution must now tell you why your application was rejected, there is a lot more that goes on behind the scenes.
Enter CIBIL.
CIBIL or Credit Information Bureau (India) Limited is India’s first credit information bureau and is a repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its Members (i.e. banks and other financial institutions) in the form of credit information reports.
I’ll let the Frequently Asked Questions explain the rest.
Awareness Fridays is my initiative to spread awareness on topics relevant to personal finance — every Friday. I urge you to take some time off and absorb this information — it’s pretty useful. And, as always, do spread the word if you find this useful.
Further reading:
- Awareness Fridays: Can You Access Your Credit Information Report?
- Awareness Fridays: Can You Access Your Credit Information Report? (Part #2)
- Awareness Fridays: Download Free Income Tax Information Booklets
- Awareness Fridays: Easy Reading — Personal Finance Advice from Suze Orman
- Awareness Fridays: Your Level of Financial Awareness Determines the Financial Deals You Get
{ 2 comments… read them below or add one }
A similar entry was published in another financial blog, earlier this week:
http://chawanni.blogspot.com/2009/02/your-credit-score-cibil-getting-your.html
Thanks for the link. I’ll check it out.