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CREDIT SCORING, RETAIL LIABILITY PRODUCT
What is credit scoring in the context of retail banking?
Credit scoring is a statistical method used by banks to assess the creditworthiness of a borrower by assigning a numerical score based on factors like repayment history, income, and outstanding liabilities.
What is the minimum CIBIL score typically required for approval of a home loan?
A score of 750 or above is generally required.
Which bureau is the primary credit information company in India that provides credit scores?
CIBIL (Credit Information Bureau India Limited) is the primary credit bureau in India; other licensed bureaus include Equifax, Experian, and CRIF High Mark.
How many Credit Information Companies are licensed by RBI in India?
Four CICs: CIBIL, Experian, Equifax, and CRIF High Mark.
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