BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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CIBIL
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ARCIL
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SEBI
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RBI
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Detailed explanation-1: -Credit Information Bureau (India) Limited (CIBIL) is India’s first credit information bureau. It is a repository of information, which contains the credit history of commercial and consumer borrowers.
Detailed explanation-2: -A credit history is a record of a borrower’s responsible repayment of debts. A credit report is a record of the borrower’s credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.
Detailed explanation-3: -India has 4 credit information bureaus-TransUnion CIBIL™, Equifax, Experian, and CRIF High Mark. These credit information bureaus are directly regulated by the RBI’s Department of Banking Operations and Development.
Detailed explanation-4: -CIBIL collects and maintains a database of consumer and commercial credit data and uses this data to generate credit scores and reports. These credit scores and reports are then evaluated by lenders to analyse credit risk.
Detailed explanation-5: -The Credit Information Bureau (India) Ltd. (CIBIL) was incorporated in 2000 and launched its operations in April 2004.