<p>Common Service Centres (CSC), special purpose vehicle of the Ministry of Electronics and IT, has partnered with TransUnion CIBIL Limited, India’s credit rating agency, to provide consumers CIBIL Score through its network of over 3.61 lakh Common Service Centre (CSCs) across the country. <br /><br />This will allow citizens, especially in rural areas where CSC has over 2.5 lakh centres, to access bank loans quickly for their entrepreneurial and personal needs.<br /><br />A CIBIL score is essentially an assessment of an individual’s creditworthiness and financial health which is used as an indicator for providing loans and credit services. <br /><br />To get the CIBIL Score through CSCs, customers will go through an authentication mechanism supported by Aadhaar OTP and Biometric. Post successful authentication, the VLE (Village Level Entrepreneur) can access the CIBIL Credit Bureau Database through the Digital Seva Portal and check the available information about the customer and download the report. <br /><br />Presently when a customer applies for a loan, the bank verifies the CIBIL Score before approving or rejecting the loan requests. But with the score being available even before approaching the bank, a customer would be able to get a fair idea about the likelihood of approval or rejection of loan. This also makes the process more transparent and supports the bank in taking decisions about loan cases, a statement from CSC said. </p>.<p>“A good credit score can also be used by a customer to bargain for a better interest rate. In some cases the customer wants to dispute the score and therefore can raise such queries through common service centres," CSC Chief Executive Officer Dinesh Tyagi said. <br /><br /> CSC VLE will help the customer know CIBIL Score, eligibility for loan, and ability to negotiate the interest rates. CSC also functions as banking facilitators for Banks and this will help generate leads only for those to whom the banks can sanction loan quickly, Tyagi added. </p>
<p>Common Service Centres (CSC), special purpose vehicle of the Ministry of Electronics and IT, has partnered with TransUnion CIBIL Limited, India’s credit rating agency, to provide consumers CIBIL Score through its network of over 3.61 lakh Common Service Centre (CSCs) across the country. <br /><br />This will allow citizens, especially in rural areas where CSC has over 2.5 lakh centres, to access bank loans quickly for their entrepreneurial and personal needs.<br /><br />A CIBIL score is essentially an assessment of an individual’s creditworthiness and financial health which is used as an indicator for providing loans and credit services. <br /><br />To get the CIBIL Score through CSCs, customers will go through an authentication mechanism supported by Aadhaar OTP and Biometric. Post successful authentication, the VLE (Village Level Entrepreneur) can access the CIBIL Credit Bureau Database through the Digital Seva Portal and check the available information about the customer and download the report. <br /><br />Presently when a customer applies for a loan, the bank verifies the CIBIL Score before approving or rejecting the loan requests. But with the score being available even before approaching the bank, a customer would be able to get a fair idea about the likelihood of approval or rejection of loan. This also makes the process more transparent and supports the bank in taking decisions about loan cases, a statement from CSC said. </p>.<p>“A good credit score can also be used by a customer to bargain for a better interest rate. In some cases the customer wants to dispute the score and therefore can raise such queries through common service centres," CSC Chief Executive Officer Dinesh Tyagi said. <br /><br /> CSC VLE will help the customer know CIBIL Score, eligibility for loan, and ability to negotiate the interest rates. CSC also functions as banking facilitators for Banks and this will help generate leads only for those to whom the banks can sanction loan quickly, Tyagi added. </p>
