Page 2 - Cibil
Cibil launches MSME borrower ranking to deepen credit, avoid sour loans
With the intent of deepening credit flow to small businesses and also helping lenders avoid loan losses on such bets, credit information company TransUnion Cibil on Tuesday launched a ranking system for MSME borrowers. The 'FIT Rank' launched by TransUnion Cibil in association with Online PSB Loans, will rate the over 6 crore micro, small and medium enterprises (MSMEs) by drawing inputs from their current accounts, income tax returns and also Goods and Service Tax (GST) returns to arrive at a score between 1-10 to rate a borrower after taking consent to draw the relevant data. Cibil's managing director and chief executive Rajesh Kumar told reporters that the ranking will give lenders an idea about the capacity of an enterprise to pay, its creditworthiness and also intention to pay from past experience. Till now, the leading credit information company (CIC) had the Cibil MSME Rank model in the market which was taking inputs from past loans, but new to credit customers were left ...
 "Cibil launches MSME borrower ranking to deepen credit, avoid sour loans")
Monitor your credit report regularly as improving score takes time
Viewing it often will also help you detect identity theft early
 "Monitor your credit report regularly as improving score takes time")
Limited bank funding drags Impact NBFCs' growth: CIBIL assessment
Impact NBFCs will need Rs 58,000 crore equity, according CIBIL assessment
 "Limited bank funding drags Impact NBFCs' growth: CIBIL assessment")
New-to-credit customer? Opt for a secured credit card, say experts
BNPL, small-ticket consumer loans are other options to build credit history
 "New-to-credit customer? Opt for a secured credit card, say experts")
Despite policy efforts, half of Indian adults 'credit unserved': Report
An additional 164 million were classified as 'credit underserved' in the global study done by Transunion Cibil, while only 179 million fit into the 'credit served' category
 "Despite policy efforts, half of Indian adults 'credit unserved': Report")
Despite policy efforts, half of Indian adults 'credit unserved': Report
Around 480 million adult Indians till the age of 65, representing half of the overall population in the earning segment, are 'credit unserved'
 "Despite policy efforts, half of Indian adults 'credit unserved': Report")
Wilful defaults fall marginally in pandemic-hit FY21: TransUnion CIBIL data
The pandemic year saw a marginal fall in the number of cases marked as wilful defaulters by banks
 "Wilful defaults fall marginally in pandemic-hit FY21: TransUnion CIBIL data")
Vehicle registrations fall 54.79% in May, sales across categories dip 66%
The apex bodies representing the dealers have appealed for relief from all vehicle makers, who are yet to announce a similar financial package like last year
 "Vehicle registrations fall 54.79% in May, sales across categories dip 66%")
Demand for retail credit makes a comeback in November: CIBIL report
Although year-on-year growth across key metrics has yet to reach pre-pandemic levels, there has been positive momentum for credit demand
 "Demand for retail credit makes a comeback in November: CIBIL report")
Home, auto loan inquiry back to 2019 level, yet to reach pre-Covid mark
In home loans, inquiry volumes were at 112 per cent of July-August 2019 levels
 "Home, auto loan inquiry back to 2019 level, yet to reach pre-Covid mark")
Worries over liquidity to boost credit card, personal loans: CIBIL
Unlike the slowdown a decade ago, demand for credit cards and personal loans will remain as consumers look to secure funds to bridge gaps in personal finance.
 "Worries over liquidity to boost credit card, personal loans: CIBIL")
Why lending to MSMEs makes business sense
A large section of MSMEs is creditworthy and micro retail borrowers' cash flow allows them to repay bank loans fast
 "Why lending to MSMEs makes business sense")
Credit score to be in line with RBI moratorium guidelines: Transunion Cibil
The RBI announcement came as a relief to the borrowers and affirmed commitment to provide a comprehensive picture of each person so they can be reliably and safely represented in the marketplace.
 "Credit score to be in line with RBI moratorium guidelines: Transunion Cibil")
Credit supply to commercial sector slows to multi-year low of 8.1%: Sidbi
The report said lending to micro, small and medium enterprises has increased for smaller borrowing size and lower duration borrowers, it said
 "Credit supply to commercial sector slows to multi-year low of 8.1%: Sidbi")
Loans disbursed by NBFCs remain under stress, says CIBIL report
NBFCs have played a key role in consumer credit growth over recent years
 "Loans disbursed by NBFCs remain under stress, says CIBIL report")
Defaults on credit cards, loan against properties on the rise, says CIBIL
While India continues to be on the path of growth, lenders must judiciously monitor their risk management processes
 "Defaults on credit cards, loan against properties on the rise, says CIBIL")
Correct errors in your credit score quickly
With more and more places seeking it, any mistake in the score may cost you
 "Correct errors in your credit score quickly")
Cibil to now help borrowers get the best loan
Banks will pay fees to Cibil, while customers need not pay any charges
 "Cibil to now help borrowers get the best loan")
Banks focus on a few states creating bad loans: Cibil
The highest NPAs, of over 15 per cent, are in leather, textile and steel industries
 "Banks focus on a few states creating bad loans: Cibil")
CIBIL to provide one free credit report a year: Raghuram Rajan
Currently, an individual has to shell out Rs 550 for a report and a onetime credit score in the PDF format from CIBIL
 "CIBIL to provide one free credit report a year: Raghuram Rajan")