CMA (Dr.) P. Siva Rama Prasad M.Com., MBA

Transcript:CMA (Dr.) P. Siva Rama Prasad M.Com., MBA:
CMA (Dr.) P. Siva Rama Prasad M.Com., MBA (Finance)., FCMA., FCS., FIIBF., FIII (Life & General Insurance)., MAIMA., Asst. General Manager (Retd.) State Bank of India Hyderabad Credit Information Companies (Redressal Mechanism) Credit Information Companies (Complaint Redressal) Credit Rating Report gives an Idea to the Bank about the Credit Worthiness of the Applicant. Credit Rating Report Reveals the Information to the Bank about Credit Discipline of the Loan Applicant. Credit Ratings System is Controlling the NPAs of the FIs/Banks. If Errors are not rectified Genuine Loan Applicants are Unable to Avail Loan Facilities from the Banks / FIs. Credit Information Companies (Complaint Redressal) The Credit Information Companies (CICs) Collects Financial Information about all the Individuals and Forms a Credit Report based on their Financial History. This Credit Report plays a Very Important Role as it helps Banks and other Financial Institutions determine the Creditworthiness of an Individual / Commercial Organizations Applying for a Loan or Credit Card etc. with them. Credit Information Companies (Complaint Redressal) Credit Information Companies (CIC) In India: Credit Information Bureau Limited or CIBIL. Equifax. Experian. High Mark Credit Information Services. Credit Information Companies (Complaint Redressal) Credit Information Bureau Limited or CIBIL Credit Information Companies (Complaint Redressal) CIBIL: The Credit Information Bureau Limited or CIBIL was founded in the year 2000. It is also the First Credit Information Company (CIC) of India. CIBIL Boasts of over 900 Strong Member Base including Public and Private Sector Banks, Non-banking Financial Institutions and Housing Finance Companies. Credit Information Companies (Complaint Redressal) CIBIL Collects Commercial and Consumer Finance related Data and Forms a “Credit Report” and CIBIL Commercial Report etc. The Company also issues a Score Derived from this data known as CIBIL Score. Any Individual can Purchase a Copy of their CIBIL Report. Credit Information Companies (Complaint Redressal) Equifax Credit Information Companies (Complaint Redressal) Equifax: Equifax is a CIC that was Founded in the year 1899 in Atlanta. It is one of the Oldest CIC as of now. Equifax Got its 'Certificate of Registration' in India’ in the Year 2010 by the Reserve Bank of India. Credit Information Companies (Complaint Redressal) The Company has a Separate Bureau dedicated to Address the Growing Lending and Regulatory Needs of the Microfinance Institutions. The Company Charges a Fee for a Basic Credit Report and a Fee for Credit Score. Credit Information Companies (Complaint Redressal) Experian Credit Information Companies (Complaint Redressal) Experian: Experian Credit