cibil-credit-report

ZestMoney and LazyPay – New Age Just in Time Loans for Millennials

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Digital penetration has increased at a swift pace over the past few years in India. The decrease in average data cost and drop in price of smartphones has resulted in higher internet activity. This has promoted digital transaction and online purchases. PayTM, MobiKwik, etc. started the digital payment revolution and these platforms have expanded vertically. UPI has increased at a sharp pace in India. New entrants like PhonePe, Google Pay, etc. have increased digital payment adoption in the past two years.

ZestMoney‘s co-founders were inspired by the scope of digital lending in India while working in London. Urbanization and rising aspirations of Indian consumers, alongside the discount model of the online e-commerce industry, has fueled the swift pace of growth in online purchases. E-commerce is expected to

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What Should be your Ideal Credit Utilization Ratio ?

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india-credit-utilization-rateCredit Cards are basically instruments introduced to extend per-approved credit line for your spend. While using them one has to be careful about Credit Utilization Ratio and impact on Credit Score. Most of our readers posed me a question on how much Credit can one use on the per-approved credit line of Cards, Personal Loans, etc without affecting one’s credit scores.

Credit Utilization Ratio is the percentage of available credit limit that one is utilizing. For example on a Card with

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Credit Bureaus Aid Unsecured Lending to High Credit Score Consumers

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Unsecured Loans Growth IndiaThe transformation of the Indian financial sector began with consumer credit profiling by credit information company such as CIBIL and later permitting Equifax and Experian to compete in the world’s largest democracy. In the last 5 years, Credit bureaus have been a game changer for the personal / business loan and credit card segments.

Unsecured products (personal /business loans, credit cards ) are seeing continued momentum in growth. However, this difference between current and previous

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ICICI Jet Privilege Credit Card Annual Fees Dispute

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icici bank jet priviliege cardA Reader of our Website Writes to us seeking suggestion on false Marketing of Credit Card by ICICI Bank. His case is as follows,

I got a credit card of ICICI Bank. Card type is Coral (JET Airways). When i applied for this card, the customer care told me this is free card for 1 year. I had word with Mr Bhandari in ICICI Bank. But when i got the first bill statement, there are two charges. Joining fee of Rs 1,250 and a Service Tax of Rs 154.50. So I have registered a complaint with ICICI Card Customer Care. When i am asking for cancellation, then are refusing my words. Please help me regarding this.

Firstly, Credit Card Applications whether

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Credit Bureaus Lobby for Mobile / Utility Bill Payment Records

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Mobile Bill Pay India - CIBILLeading Credit bureaus in India – CIBIL, Experian and Equifax have started lobbying with the government for to get access to consumers Mobile Bill Payment records. The companies have initiated talks with TRAI which currently prohibits sharing of consumer data with any of the credit bureaus in India.

Telecom Operators are Un-willing to share the information with the Bureaus unless the Government mandates. Separately, CIBIL the company which tracks your creditworthiness is also in talks with various Utility Companies (Electricity Suppliers where Consumers Pay Monthly Bills) as these records will

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Indian Private Banks Rely on CIBIL Data Repositories for Lending / Monitoring

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Private BanksIndian Private banks have a deeper usage of data than PSU banks. Some PSUs banks are big users of the credit bureau and there are others which are still learning to integrate the systems. The critical issue faced by PSU banks is digitalisation of documents and providing the same to CIBIL.

To increase the scope and to have early warning systems in place, CIBIL is working towards including Self Help Groups / Micro-finance Institutions to give information, as they are generally the first

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