IndianMascot
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Thinking of postponing payment of your phone bill? Better think again. If the Credit Information Bureau (India) Ltd (CIBIL) succeeds in its proposal to source payment data from telecom service providers, your poor phone bill payment record could turn out to be the reason you don’t get a loan.
The country’s largest database collector on borrowers, more commonly known as CIBIL, and the credit rating it gives an individual, are one of the first things lenders check when it comes to a loan application.
According to CIBIL chairman M V Nair, the firm is contemplating sourcing data from alternate channels, including bill payment records of telecom service providers and insurers.
“We have written to the Telecom Regulatory Authority of India, the Insurance Regulatory and Development Authority and the Reserve Bank of India to enable us to access data from service providers,” said Nair, speaking on the sidelines of the Fifth Annual Credit Information Conference. “This will facilitate an indicative credit score for first-time borrowers,” he said.
Ignored Paying Phone Bill? Forget that Much-needed Loan -The New Indian Express
The country’s largest database collector on borrowers, more commonly known as CIBIL, and the credit rating it gives an individual, are one of the first things lenders check when it comes to a loan application.
According to CIBIL chairman M V Nair, the firm is contemplating sourcing data from alternate channels, including bill payment records of telecom service providers and insurers.
“We have written to the Telecom Regulatory Authority of India, the Insurance Regulatory and Development Authority and the Reserve Bank of India to enable us to access data from service providers,” said Nair, speaking on the sidelines of the Fifth Annual Credit Information Conference. “This will facilitate an indicative credit score for first-time borrowers,” he said.
Ignored Paying Phone Bill? Forget that Much-needed Loan -The New Indian Express