Multiple choice

Which of the following is helping the banking system in sharing the information about the credit history of households?

  1. Banking Codes and Standard Board of India

  2. Credit Information Bureau India Limited

  3. CRISIL

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

CIBIL - India's first credit information bureau - has been established to cater to the credit information requirement of the financial sector and serves as an effective mechanism for curbing the growth of Non-Performing Assets (NPAs). It was founded in August, 2000. CIBIL collects and maintains records of an individual's payments pertaining to loans and credit cards. These records are submitted to CIBIL by member banks and credit institutions, on a monthly basis.

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