Business   

CIBIL, TransUnion launch personal loan score

CHENNAI: First score of its kind for the Indian market, Credit Information Bureau (India) Ltd.(CIBIL) and TransUnion, global leader in credit and information management, have launched their personal loan score to enable credit grantors to make loan decisions with greater confidence and reliability. The new offering — CIBIL TransUnion personal loan score — provides analytics on the likelihood of applicants or customers becoming 91 days delinquent on a personal or consumer loan over the next 12 months, CIBIL release says.

This unique offering arrives at a time when credit grantors are facing challenges with rising delinquencies in unsecured equated monthly instalment (EMI) loans.

For those grantors who have difficulty in effectively assessing risk for unsecured EMI loans, the score enables them to use an objective risk measure to evaluate applicants and reassess current customers.

The result from this score provides lenders with greater predictability in making more loans to creditworthy applicants.

“With CIBIL becoming one of the first credit reporting companies receiving an ‘In principle approval’ from the Reserve Bank of India , we are pleased to continue in the tradition of providing value-added service offerings to our customers that continue to meet and exceed their demands,” CIBIL Managing Director Arun Thukral said. “Businesses can use the score to retain current customers and determine potential customers, ultimately reducing losses and increasing profitability,” said General Manager, Analytics and Decisioning Services of TransUnion Satish Pillai.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Rupee at five-month high
Telecom cos asked to list priority areas to new Govt
Dr. Reddy’s Lab posts Rs. 517 crore net loss
SEBI keeping close watch on bourses: Chawla
Mobile chip can function as multi-application smart card
CIBIL, TransUnion launch personal loan score
Apparel sector seeks stimulus package
Exchange Rates
Bullion Rates
Oriental, PNB in bancassurance tie-up
Siemens to train SAIL staff
Chola MS Risk Services gets ISO certification
HCL builds SAP infrastructure for Misys
New brand ambassador for Aristocrat
Workshop on corporate governance
Greaves Cotton’s record engine production

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu