BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
Collecting records of an individual’s payments pertaining to loans
|
|
Maintaining records of an individual’s payments pertaining to credit cards
|
|
Creating Credit Information Reports
|
|
All of the Above
|
Detailed explanation-1: -Credit Information Companies (CICs) collect public data, credit transactions and payment histories of individuals and companies regarding loans, credit cards, among others. Based on the the collected data, CICs form a credit report and generate a score.
Detailed explanation-2: -The top four credit information companies in India are: Credit Information Bureau (India) Limited (CIBIL) Equifax. Experian.
Detailed explanation-3: -There are 4 credit bureaus in India – TransUnion CIBIL, Equifax, Experian and CRIF Highmark.
Detailed explanation-4: -Currently, there are four CICs-Credit Information Bureau (India) Ltd (CIBIL), Equifax Credit Information Services Pvt Ltd, Experian Credit Information Company of India Pvt Ltd and CRIF High Mark Credit Information Services Pvt Ltd.