CIBIL Score FAQs Answered
CIBIL is the new buzz word in the banking and financial town. You wouldn’t have given much heed to this word until you decided to get a loan or a credit card. When you first heard this word coming out of the bank’s mouth, there might have been a flurry of questions arising in your head. Questions like, What is CIBIL? Where is it from? What is CIBIL Score FAQsa CIBIL score? Why is it necessary to maintain a good CIBIL score? And the list is never ending. In this article, we answer some questions related to CIBIL and some CIBIL Score FAQs . What is CIBIL? CIBIL, now known as TransUnion CIBIL, is an abbreviation for Credit Information Bureau of India. CIBIL is a part of TransUnion, an American multinational group. It is a credit information company that provides and formulates report about the credit behaviour or creditworthiness of individuals and corporates. 80-90% of Indian Banks and Non Banking Financial Companies rely on CIBIL for credit infor...