CIBIL to expand outreach programme

The Credit Information Bureau Limited is gearing up to expedite its outreach programme in suburban India to partner the financial inclusion drive of the government. Harshala Chandorkar, Senior Vice-President of Consumer Relations at CIBIL, said financial literacy among young accountholders and those living in hinterland was critical.

CIBIL, she said, partners in the Financial Literacy Counselling Centres of the public sector banks to educate prospective borrowers about the benefits of timely repayments.

According to a CIBIL report, since 2009 there has been more than 200 per cent growth in the number of consumers accessing bank accounts and this indicates rising financial awareness in the country. There has been a drop in the rate of delinquencies which has brought financial discipline, she said.