UGC NET COMMERCE June 2019 Q64
0. Credit worthiness score in India ranges between:
- Option : B
- Explanation : The Reserve Bank of India has licensed four
major credit information organization to
accumulate data and provide credit scores for
the people of the country. These four organizations
are Credit Information Bureau of India
Limited (CIBIL), CRIF High Mark, Equifax
and Experian. CIBIL is oldest organization
and its scores are deemed to be the most
acceptable by lenders. It started its operation
in 2000 the rest of the three companies
received licenses to operate in 2010.
A CIBIL score ranges between 300 and 900 where 900 is considered to be the best score. The credit score of an individual is built over a period of 18 to 36 months. A credit history which is less than 6 months old will have a CIBIL score of 0 while people with no credit history at all will show a CIBIL score of –1.
