TransUnion CIBIL CEO talks about powering India’s economic growth through responsible credit

Credit bureaus play a vital role in supporting a growing economy by facilitating access to credit, reducing information asymmetry, and improving risk management. Through TransUnion CIBIL, we have ensured that the lenders get information about the consumer’s repayment history and their score, which helps them assess the consumer’s credit worthiness objectively and ensure that loans or credit facilities are provided objectively in the shortest possible time,” said Jain. TransUnion CIBIL has enabled credit institutions to give loans and credit facilities on a near real time basis as they make informed decisions, and not subjective calls at branches. CIBIL Rank for MSMEs Businesses can access their commercial credit information report and CMR, which are analysed by credit institutions to decide the type of loan to be given and its extent. Don’t apply on a regular basis to different institutions · Make sure that you pay within the timelines · Don’t max out the utilisation on your credit cards Jain concluded the session with a message for people wanting to manage their credit profiles: “I would say, be within your means, monitor your credit report and your score on a regular basis along with your CMR if you are a business entity, and make sure that you continue to pay on time, you ensure that you take credit but are responsible about it.” Click here to watch the full video: https://www.facebook.com/events/1278680979872236