Apart from your income, your credit worthiness is the single most important tool considered by Loan providers while evaluating your application for any type of loan. Thus, it becomes utmost important to understand how does your Credit Information Report (CIBIL – Credit Information Bureau India Limited) works and how to improve a bad credit history to increase your credit worthiness. It is generally accepted that a credit score more than 730 is good and educes assurance and trust from banks.
RBI reduced repo (interest) rates (rates at which it lends money to banks) by 25 basis points from 7.5 per cent to 7.25 per cent.The Reserve Bank of India on Friday in its credit policy review cut short-term lending rate (repo rate) by 25 basis points. The central bank has, however, left the cash reserve ratio (CRR) unchanged.
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Tarun Kumar Gupta
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