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CIBIL Full Form | क्या है CIBIL Score, जाने फुल फॉर्म in Hindi and English

CIBIL Full Form

Sometimes we have to take loans such as home loan, car loan, personal loan etc, due to not having enough money to fulfill some of our desires. Therefore, you will not get a loan or what you have applied a credit card, you will not get it, it depends to some extent on your CIBIL or Credit Score. So today, we are going to tell you about CIBIL Full Form. You can get all details such as क्या है CIBIL Score, जाने फुल फॉर्म in Hindi and English from this page.

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The full form of CIBIL is Credit Information Bureau of India Limited. CIBIL is a credit rating agency that determines your credit score based on your credit history or financial transactions. On the basis of this credit score, banks decide whether to give loans or not.

Credit score is very important in the process of taking a loan as it is determined on the basis of loan and credit card repayment made in the past, which directly shows your credit ability or ability to pay back the loan. There are many credit rating companies in India of which CIBIL is the most popular. Credit reports or credit scores are prepared by almost all companies in the same way.

CIBIL Full Form

जाने CIBIL फुल फॉर्म in Hindi and English

CIBIL Full Form in English

क्रेडिट इंफॉर्मेशन ब्यूरो (इंडिया) लिमिटेड

CIBIL Full Form in Hindi

क्रेडिट इंफॉर्मेशन ब्यूरो (इंडिया) लिमिटेड

What is the Abbreviation of CIBIL?

The abbreviation of CIBIL is given below:

C:- Credit

I:- Information

B:- Bureau

I:- India

L:- Limited

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क्या है CIBIL, जानिए हिंदी में

CIBIL (क्रेडिट इंफॉर्मेशन ब्यूरो (इंडिया) लिमिटेड) एक क्रेडिट ब्यूरो या क्रेडिट सूचना कंपनी है। यह कंपनी कंपनियों की क्रेडिट-संबंधी गतिविधियों के साथ-साथ क्रेडिट कार्ड और ऋण सहित सभी गतिविधियों के रिकॉर्ड को बनाए रखने में लगी हुई है। पंजीकृत सदस्य बैंक और कई अन्य वित्तीय संस्थान समय-समय पर CIBIL को अपनी जानकारी देते हैं। इन संस्थानों द्वारा प्रदान की गई जानकारी और रिकॉर्ड के आधार पर, CIBIL एक CIR (क्रेडिट सूचना रिपोर्ट) और साथ ही एक क्रेडिट स्कोर जारी करता है।

CIBIL एक क्रेडिट सूचना डेटाबेस है और यह किसी भी प्रकार के उधार निर्णयों में भागीदारी करता है। यह बैंकों और ऐसे अन्य उधारदाताओं को जल्दी और कुशलता से ऋण अनुप्रयोगों को फ़िल्टर करने के लिए डेटा प्रदान करता है जो उन्हें अपने व्यवसाय के दौरान प्राप्त होते हैं।

What is CIBIL Score?

Whenever a person applies to a bank or financial institution for taking a loan such as a home loan, car loan, personal loan, credit card, etc. then that bank or institution will repay your loan or ask for the loan repayment ability. Checks based on scores.

The CIBIL score is a 3 digit number that shows your credit history, how you have paid your loan and credit card payments in the past, it is all present in it, to determine your ability to repay your loan.

The higher the CIBIL score, the better is considered and having a higher CIBIL score increases your chances of getting a loan.

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How CIBIL Works

To get complete information about the Payment Histroy of a Credit Applicant, the Grantor has to submit all the Credit Records of the applicant which can be of different entities. By taking the data related to Civil Consumer and Company, this credit score reaches its member, so we can say that CIBIL works to obtain these data and make a credit report and tell it to its members.

Who issues your CIBIL score?

The full form of CIBIL is Credit Information Bureau of India Limited, which is the first credit information company in India, whose work prepares the Credit Information Report.

This company was started in the year 2000. It was renamed TransUnion CIBIL Limited in 2016 after the US company TransUnion bought an 82% stake in CIBIL.

On what basis is the CIBIL score formed?

Your CIBIL Score is issued by Transunion CIBIL Ltd. This company asks for credit reports of people from various banks and financial institutions, which keeps an account of all payments related to our loans and credit cards. In this way, the CIBIL Score is prepared on the basis of your previous loan and credit card payments.

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How is CIBIL Score calculated?

There are four important factors that affect your CIBIL score:

  1. Payment History: Filling or default of late EMI has an adverse effect on your CIBIL score.
  2. Credit Mix: Having a secured and unsecured loan has a positive effect on your credit score.
  3. Frequent Inquiries: Too many inquiries about loans have a negative effect on your score. This indicates that your loan burden may increase in future.
  4. High Credit Utilization: The High Credit Utilization Limit indicates debt increases over time. It does not have a good effect on the score.

How can you improve your CIBIL score?

If for some reason your CIBIL score is not good, then here we are telling how it can be improved:

  • Always pay your outstanding bills on time. Banks do not consider late payment to be good.
  • Do not use credit too much. Curb expenses Balance between secured loans like home and auto loans and unsecured ones like personal and credit cards. Too much unsecured loan is not considered good. If you have a joint account, keep an eye on the joint account holder. The negligence of the joint account holder also affects your credit score.
  • Please review the credit history from time to time. Keep an eye on your CIBIL score. By regularly checking the report, you get it rectified if there is any mistake from the bank.

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Can CIBIL delete or change my records?

CIBIL cannot erase or change records that automatically reflect your CIR, we only collect records of individuals provided by our members (banks and financial institutions). There is also no list of ‘good’ and ‘bad’ credits or guilty persons.

What does it mean when my score is NA or NH?

Not applicable or NH score is not bad at all. It means one of the following:

  • You have no credit history or your credit history is not enough to score, ie you are new to the credit system
  • You have not done any credit activity in the last two years.
  • You have all the add-on credit cards and have not been oriented for credit.

It is important that these scores are not viewed negatively by the lender, but some lenders prohibit the credit policy from lending to applicants with an “NA” or “NH” score (applicants with no credit track recorders), so you There may be a better possibility of applying for a loan at another location.

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It is not necessary that if your CIBIL score is low, then you will not get a loan. The loan is always available on your ability to repay the loan in the future. However, if the CIBIL score is not good then you may face some difficulty but if you convice the bank You can get a loan by showing the ability to repay your debt today for a loan.

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