Experian recently released the Experian 2020 Global Identity & Fraud Report. One of the key findings is that consumers seem to have a heightened awareness about the value of their information with about 69% of Indian consumers saying they like the changes being made to the customer experience as a result of their data being used.
Information services firm Experian on Wednesday said it is offering free credit reports to its customers in the country for the current year. The Reserve Bank of India (RBI) has mandated all credit information companies (CICs) to provide access to one free full credit report (FFCR), including credit score, once in a calendar year, to consumers whose credit history is available with them.
Dublin headquartered consumer credit company Experian has tied up with Chennai-based technology distributor Redington India to market the former’s software solutions to the banking, financial services and Insurance (BFSI) industry.
The Reserve Bank of India (RBI) on Friday slashed its key policy rate for a second time this year in an emergency meeting to counter the economic fallout from an ongoing nationwide lockdown to contain the spread of the coronavirus.
Banks will have to reduce their loan approval rate to 61% from the current 70% to maintain the bad loan ratio witnessed in 2009, a year after the global financial crisis, credit bureau Experian said in a webinar.
Lenders say the larger challenge is to communicate to borrowers the difference between moratorium and waiver. What’s more, experts from the credit rating industry and even bankers say the change in customer behaviour post moratorium may nudge them to revisit their lending strategy.
The Reserve Bank of India (RBI) has gone all out to fight the economic fallout of coronavirus or covid-19 virus. As Shaktikanta Das, the central bank governor, said during the press conference on 27 March The time has come for the RBI to unleash an array of instruments from its arsenal to mitigate the impact of covid-19, revise growth and preserve financial stability.
The Reserve Bank of India (RBI) has come to the rescue of not only corporate borrowers bearing the brunt of coronavirus lockdown but also individuals facing income disruptions due to the nationwide shutdown after the spread of novel coronavirus swept the entire world. A slew of measures from reduction in the repo rate and cash reserve ratio to three-month moratorium on term and credit card loans are expected to provide immediate relief to the borrowers.
Reserve Bank of India (RBI) Governor Shaktikanta Das's announcement of rate cuts, forbearance on loans and liquidity easing measures were welcomed by analysts who said the economy requires stimuli in the present circumstances. Some of them also said that the RBI may have to deepen the rate cut if the COVID-19 crisis prolongs.
