Experian In The News

By Business Standard 28/10/2020

Retail loans cause more pain in Q2

Stress in retail loans had started building up around this time last year, owing to the slowdown in economic activity. The pandemic and subsequent lockdown may have added to stress, if the September quarter (Q2) results of India’s largest retail lenders across segments — HDFC Bank, Bajaj Finance, and SBI Cards — are anything to go by.

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By Moneycontrol.com 27/10/2020

How to build a good credit profile during these challenging times

You must ensure that you make loan repayments regularly, as the moratorium period has ended. With the uncertainty the pandemic has brought in our lives, people have become conscious and concerned about their financial well-being. In most cases, the immediate consequence of any stress in the economy is a rise in the cost of living, as expenses spike.

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By Business Standard 26/10/2020

Regularise your accounts by the end of November

Borrowers must recommence regular repayments and ensure that they do not default on their loan obligations. A credit score is a dynamic one, given on the basis of a borrower’s behavior that summarises the historical information. The Reserve Bank of India’s (RBI’s) decision in March 2020 to allow a moratorium period of three months for all outstanding loans (which was subsequently extended to six months), aimed to provide relief and reassurance to those who were financially impacted due to the pandemic.

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By The Print 15/10/2020

Your credit score won’t be impacted if you opt for loan restructuring. Here is why

The loan restructuring facility the Reserve Bank of India (RBI) has allowed will leave no impact on the credit score of retail borrowers. According to officials in the banking industry, the credit score of a customer of any retail loan, like home or auto loans, will not be impacted even if they decide to restructure their loans. Instead, the credit score and future borrowing eligibility will be decided by the credit repayment history after the loan has been restructured.

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By The Financial Express 15/10/2020

43% consumers saw household income drop during Covid: Experian

Close to half of Indian consumers — 43% — indicated that their household income had declined since the beginning of the Covid-19 outbreak, credit bureau Experian said on Wednesday. To deal with their changed financial circumstances, consumers have changed their behavioural patterns, cutting down on discretionary spends and setting aside more funds for emergencies.

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By The Economic Times – Wealth 14/10/2020

43% Indian consumers record decline in household income: Experian Global

Credit information company Experian on Wednesday said 43 per cent of Indian consumers witnessed a decline in their household income owing to the impact caused by the pandemic. It added that these households were concerned about their well-being. Though this concern was not only restricted to consumers, 53 per cent Indian businesses highlighted health & safety of customers as the biggest challenge.

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