What is Credit Score or CIBIL and How it works ?

This post would educate about the basics of credit score, what exactly it is and how it works.

Credit Information Bureau (India) limited is a credit bureau which provides the credit related activities information of individuals and companies.

The records are submitted to CIBIL by registered member banks and other financial institutions on a periodic (usually monthly) basis. Based on this data, CIBIL issues a Credit Information Report or CIR (commonly referred to as a credit report) and a credit score.

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