A healthy CIBIL report and score increases one’s chances of getting a loan and costs Rs 500. “By the end of the year, the Credit Information Bureau of India will start providing individuals with one free credit report a year, so that they can check their credit rating and petition if they see possible discrepancies,” RBI governor Raghuram Rajan told delegates at a seminar on ‘Transforming Rural India through Financial Inclusion’.
Indiabulls Housing Finance has become the first mortgage company to complete an end-to-end digitisation of loan sanctions. What this means is that a borrower can now digitally sign a loan proposal, submit documents electronically and get a sanction based on salary documents all from a computer or tablet.
Bhavnagar, a city of about 6 lakh people in the Saurashtra region of Gujarat, makes headlines for being one of the hottest — if not the hottest — in the state. Seven years ago, Dhyey Chitalia left his home for Mumbai to study.
Powered by technologies that harness big data, fintech companies are positioning themselves as viable lenders and payment solutions providers with mobile wallets and insta-loans.