Answer-CIBIL score is used in?

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Question

CIBIL score is used in?

A 1) Opening bank account Correct Incorrect

B 2) Sanctioning loans and credit cards to retail customers Correct Incorrect

C 3) Issuing passport Correct Incorrect

D 4) Calculating provisioning requirement for NPAs Correct Incorrect

E 5) This is used for calculating CRR and SLR requirement of the banks Correct Incorrect

Detailed Solution

CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIR (Credit Information Report). A CIR is an individual's credit payment history across loan types and credit institutions over a period of time.

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