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Question

What is CIBIL score?

A A score that is used for predicting bankruptcy which is based on the formula published in 1968 by Edward I. Altman Correct Answer Incorrect Answer
B A three-digit numeric summary of credit history of an individual which is derived using the credit payment history across loan types Correct Answer Incorrect Answer
C It is an evaluation of a credit rating agency of the qualitative and quantitative information about a company who has taken loan from more than one institution. Correct Answer Incorrect Answer
D Is calculated by banks to find out the provisioning requirement of reported Non-Performing Assets (NPAs) Correct Answer Incorrect Answer
E This is used for calculating CRR and SLR requirement of the banks Correct Answer Incorrect Answer

Solution

TransUnion CIBIL Limited (Formerly: Credit Information Bureau (India) Limited) is India's first Credit Information Company (CIC) founded in August 2000. A Credit Score or the 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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