Answer-What is CIBIL score?

TransUnion CIBIL Limited Formerly Credit Information Bureau India Limited is Indias 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 individuals credit payment history across loan types and credit institutions over a period of time.

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

B A three-digit numeric summary of credit history of an individual which is derived using the credit payment history across loan types

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.

D Is calculated by banks to find out the provisioning requirement of reported Non-Performing Assets (NPAs)

E This is used for calculating CRR and SLR requirement of the banks

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