Industry leaders want budget to make healthcare more affordable, simplify the proposed Direct Tax Code and take steps to increase financial awareness. At a time when the country’s economy is hit by the worst slowdown in over a decade, what the budget holds for various sectors becomes all the more important, especially because consumption across most sectors has taken a hit.
It is now possible to monitor your credit score for free using a mobile app and even get advice to improve the same. Experian India, the Indian arm of global information services company. Experian, has partnered with FPL Technologies, a fintech; to educate consumers on credit behaviour via the’ latter's OneScore mobile App, a credit-monitoring app.
Effective October 1, banks are allowed to charge a credit-risk premium over external benchmarks for calculating the effective interest rate on loans. This makes the credit score of borrowers an important factor in determining the interest rates.
Credit information provider Experian said it has entered into a strategic investment into mobile marketing platform Vserv Digital Services Pvt. Ltd, which will give Experian access to new telecom-based customer data sets available with Vserv.
Credit information provider Experian said it has entered into a strategic investment into mobile marketing platform Vserv Digital Services Pvt. Ltd, which will give Experian access to new telecom-based customer data sets available with Vserv.
Mumbai-based advertisement technology startup Vserv has raised an undisclosed amount from global data analytics and decisioning company Experian. Experian, which is registered as one of the credit bureaus in India, will get a significant minority stake in the company through the deal.
BFSI companies always seek to lend responsibly and fairly, while at the same time protecting themselves and their customers from risk. To do this, they often sift through vast amounts of data to analyze a customer’s credit history, which includes individuals and companies, before making calculative decisions about lending and the lending terms.
The slowdown in the economy has increased delinquencies in the auto and the commercial vehicle loans of NBFCs and banks. The drop in businesses among the micro enterprises, the small and medium scale businesses and individual businesses are leading to the distress in the segments. Rating agency Moody's had warned last week that delinquencies in both the segments could rise further.
Risk-based pricing in India is still at a nascent stage. With the strengthening of credit bureau presence, credit score-based underwriting and alternative methods of risk evaluation, we can expect risk-based pricing to pick up over time. Financial frauds are closer than you think. All the more reason why you need to be on your guard.
