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Credit Scoring & Retail Liability
What is credit scoring in the context of retail banking?
Credit scoring is a statistical method used to assess the creditworthiness of a borrower by assigning a numerical score based on factors like repayment history, income, outstanding debt, and credit utilization.
What is the difference between a generic scorecard and a customized scorecard in credit scoring?
Generic scorecards use bureau data; customized scorecards use bank's own historical data.
Which credit bureaus are licensed by RBI to provide credit information reports in India?
RBI has licensed four credit information companies: CIBIL (TransUnion CIBIL), Equifax, Experian, and CRIF High Mark to provide credit information reports in India.
What is a 'cut-off score' in the context of retail credit scoring?
Minimum score below which loan applications are automatically rejected by the bank.
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