What is Cibil? why we check cibil?

Question

Accepted Answer

Cibil is a credit information company that maintains credit records of individuals and companies.

Cibil stands for Credit Information Bureau (India) Limited.
It is a credit information company that collects and maintains credit records of individuals and companies.
Cibil provides credit reports to banks and other financial institutions to help them assess the creditworthiness of borrowers.
Checking Cibil score is important for individuals as it helps them understand their creditworthiness and improve their chances of getting loans at favorable terms.
Cibil score ranges from 300 to 900, with a higher score indicating better creditworthiness.
Factors that affect Cibil score include credit history, credit utilization, payment history, and credit mix.
Cibil also provides credit monitoring services to help individuals detect and prevent identity theft and fraud.

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