I was shocked to read that CIBIL now intends to use your utility bill payments to determine credit history. I heard of this some time before but never thought that they will actually get down to implementing it. There are reasons why this should not be implemented:- telephone bill – 1. many a time, the…
the part 1 of this post could be accessed here http://recklessmusings.blogspot.in/2012/09/cibil-growing-monster-or-saviour-part-1.html Brief history —————— CIBIL was set up in 2001 to reduce the number of NPA’s the banks were facing by providing apriori information of the prospective borrower’s payment pattern by studying his previous loan track records. Earlier these records were not available centrally but…
My friend Ramesh showed me the new flat he was planning to purchase. I checked the vaastu for him and found that it was perfectly suitable for him. He was getting the flat at a good price as he had promised the builder quick settlement. The moment, the agents (of different banks) came to know…