Banks get new tool to assess new to credit customers
Banks get new tool to assess new to credit customers SECTIONS Share Synopsis Such new to credit customers were historically difficult to assess because they have no formal credit history. But they are the fastest growing borrower group for banks to tap, though lenders were cautious in giving them loans as there was no way to assess their default probability. Agencies On a monthly basis, approximately 24% of enquiries are made for loan applications by individuals who do not have a credit history. A majority of the enquiries come from rural and semi urban areas. India's oldest credit assessment...
Source: indiatimes.com