CIBIL should reveal exact formula for computing CIBIL Score for better transparency and should also provide reasons for drop and rise of CIBIL score

[Mahirathore360]

I think its our right to have proper information about how our score is being calculated, private agency like CIBIL having all our financial data should be more tranparent with us and should provide us monthly update on reason of rise and fall of CIBIL score, what you think ...

 

[Amy_Sin2024]

CIBIL is a private institution and they might not share it. If Govt mandate then only they will do it.

 

[harsh_ujjwal]

I think its our right to have proper information about how our score is being calculated, private agency like CIBIL having all our financial data should be more tranparent with us and should provide us monthly update on reason of rise and fall of CIBIL score, what you think ...

Exactly.. If one repays on time then also score remains the same for years. It does not increase. One misses the payment it decreases instantly.

 

[Mahirathore360]

CIBIL is a private institution and they might not share it. If Govt mandate then only they will do it.

K. Chidambaram did the right thing in parliament about CIBIL

 

[Mahirathore360]

Exactly.. If one repays on time then also score remains the same for years. It does not increase. One misses the payment it decreases instantly.

RBI needs to have a look in it

 

[Amy_Sin2024]

That’s true indeed

 

[archit3000]

Govt will only do if we the people demands it

 

[cardy]

Exactly.. If one repays on time then also score remains the same for years. It does not increase. One misses the payment it decreases instantly.

Very true

 

[Rishiraj Singh Sikarwar]

I think its our right to have proper information about how our score is being calculated, private agency like CIBIL having all our financial data should be more tranparent with us and should provide us monthly update on reason of rise and fall of CIBIL score, what you think ...

Yes , I agree with you. There should be a simple criteria for how our score is being calculated in order to get clear info about how we should control our expenditure so that we can have better credit score.

 

[Mahirathore360]

Govt will only do if we the people demands it

K. Chidambaram has raised voice in this regard in Parliament, lets see what happens