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The article provides a clear distinction between the <keyword id="2054234" type="General" weightage="20" keywordseo="CIBIL-score" source="Orion">CIBIL score</keyword> and the <keyword id="2405124" type="General" weightage="20" keywordseo="CIBIL-report" source="Orion">CIBIL report</keyword>, which are important factors in assessing an individual's creditworthiness in India. Here's a summary of the key differences. CIBIL Score: <ul><li>Nature of Information: A numerical representation (ranging from 300 to 900) that reflects your creditworthiness.</li><li>Usage by Lenders: Used by lenders or lending institutions for swift credit risk evaluation.</li><li>Purpose: Serves as a quick reference point for lenders to assess an applicant's credit risk.</li><li>Impact on Lending Decisions: The CIBIL Score affects interest rates, credit limits, and the approval or decline of loan applications and credit card requests.</li></ul> CIBIL Report: <ul><li>Nature of Information: A detailed record of your credit history and overall financial behavior.</li><li>Usage by Lenders: Offers comprehensive insights for a meticulous credit assessment.</li><li>Purpose: Provides a thorough background for lenders, enabling a meticulous evaluation of an applicant's creditworthiness and financial responsibility.</li><li>Impact on Lending Decisions: The CIBIL Report paints a detailed picture, offering insights into an individual's financial behavior and credit management skills, guiding lenders to make well-informed decisions when extending credit.</li></ul> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:bottom;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aspect </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:bottom;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CIBIL Score </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:bottom;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CIBIL Report </td></tr><tr><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nature of Information </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A numerical representation (300-900) </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A detailed record of credit history and financial behavior </td></tr><tr><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Usage by Lenders </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Used for quick credit risk assessment </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offers comprehensive insights for meticulous credit assessment </td></tr><tr><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Purpose </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quick reference point for lenders </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Provides a thorough background for lenders, enabling meticulous evaluation </td></tr><tr><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Impact on Lending Decisions </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Affects interest rates, credit limits, and approval/denial of loan and credit card applications </td><td style="border-left:solid #d9d9e3 0.75pt;border-right:solid #d9d9e3 0.75pt;border-bottom:solid #d9d9e3 0.75pt;border-top:solid #d9d9e3 0.75pt;vertical-align:middle;background-color:#f7f7f8;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Provides detailed insights into financial behavior and credit management skills, guiding informed lending decisions </td></tr></tbody><tbody></tbody></table>In summary, the CIBIL score is a concise numerical representation of creditworthiness, while the CIBIL report offers a comprehensive view of an individual's credit history and financial behavior. Both are essential for maintaining a healthy financial profile and making informed decisions about credit management. Regularly checking your CIBIL report can help identify errors, monitor credit behavior, and take steps to improve your credit score, ultimately enhancing your financial well-being.

CIBIL Score vs CIBIL Report - check out the differences

Mumbai, Mar 30 () Credit information company Transunion Cibil on Monday assured borrowers that data reporting will be aligned to RBI's moratorium announcement and there will not be any dent to credit histories as a result of it.The move came after the RBI announcement of a 3-month moratorium for servicing all the term loans as a measure to contain the economic fallout due to the lockdown to contain coronavirus spread."We would work closely with our member banks and credit institutions to define the data reporting framework basis (after) the announcements made by the RBI Governor, so that during the moratorium period there is no adverse impact on the credit histories and CIBIL Score of borrowers," the company said in a statement.The RBI announcement came as a relief to the borrowers and affirmed commitment to provide a comprehensive picture of each person so they can be reliably and safely represented in the marketplace.The company, the biggest among three players in the CIC (credit information companies) market, said it is also working with members to ensure more frequent and near real-time data reporting during these unprecedented times."Reporting and monitoring daily nuances of consumer behaviour trends will yield deep insights for the industry to adjust policy and lending. This will ensure support to consumers and enable the lending bodies to transact with confidence," it said. AA BALBAL

Transunion Cibil says data reporting to be in line with moratorium guidelines

<keyword id="3001" type="LOCATION" weightage="20" keywordseo="Pakistan">Pakistan</keyword> may allow <keyword id="1169098" type="PERSON" weightage="20" keywordseo="cotton-import">cotton import</keyword> from India through land route as prospects of gradual restoration of <keyword id="2144168" type="PERSON" weightage="20" keywordseo="bilateral-trade-ties">bilateral trade ties</keyword> have brightened after the <keyword id="10843030" type="UNKNOWN" weightage="20" keywordseo="new-ceasefire-agreement">new ceasefire agreement</keyword> along the <keyword id="44759" type="COMPANY" weightage="20" keywordseo="Line-of-Control">Line of Control</keyword>, according to a media report on Sunday. Citing sources in the <keyword id="137756" type="COMPANY" weightage="20" keywordseo="Ministry-of-Commerce">Ministry of Commerce</keyword>, The Express Tribune reported that Adviser to the <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week. They said that the issue of cotton shortfall has already been brought to the notice of Prime Minister <keyword id="14676" type="PERSON" weightage="20" keywordseo="Imran-Khan">Imran Khan</keyword>, who also holds the portfolio of the commerce minister. Once a principled decision is taken, a formal order will be presented before the Economic Coordination Committee of the Cabinet, the sources told the daily. The sources said that in-house deliberations have already begun but the final decision would be taken only after seeking the approval of the prime minister. I cannot say yes or no at this stage and would be in a better position to respond on Monday, Dawood told the daily, responding to a question on whether Pakistan was considering allowing cotton import from India. The trade ties between both the countries can help minimise cost of production in Pakistan and ensure sustained food supplies, the daily said. India and Pakistan issued a joint statement on Thursday to strictly observe all agreements on ceasefire along the LoC and other sectors after the hotline discussions by their Director Generals of Military Operations. The two countries signed a ceasefire agreement in 2003, but it has hardly been followed in letter and spirit over the past several years. Relations between the two neighbours have nose-dived after a series of terror attacks in India perpetrated by terror groups based in Pakistan. Bilateral ties deteriorated further after India revoked the special status of Jammu and Kashmir in 2019. The move angered Pakistan, which downgraded diplomatic ties and expelled the Indian High Commissioner in Islamabad. Pakistan also snapped all air and land links with India and suspended trade and railway services. The paper reported that against the annual estimated consumption of minimum 12 million bales, the Ministry of National Food Security and Research expects only 7.7 million bales production this year. However, cotton ginners have given the lowest production estimates of only 5.5 million bales for this year. There is a minimum shortfall of six million bales and Pakistan has so far imported roughly 688,305 metric tonnes of cotton and yarn, costing USD 1.1 billion, according to the Pakistan Bureau of Statistics. There is still a gap of about 3.5 million bales that needs to be filled through imports. Due to shortage of cotton and yarn, the users were compelled to import them from the United States, Brazil and Uzbekistan. Imports from India would be far cheaper and would reach Pakistan within three to four days. Importing yarn from other countries was not only expensive but would also take one to two months to reach Pakistan, the daily reported, quoting businessmen who deal in these commodities. The delay in yarn import can pose risk to timely deliver the export orders, according to the paper. However, the All Pakistan Textile Mills Association (Aptma) is exerting pressure on the Pakistan government not to allow cotton and yarn import from India. An industry insider told the daily that few millers have already hoarded the cotton and were now charging higher rates and import would dampen their short-term earnings. In an appeal to Dawood, Aptma said that the import of yarn from India will directly impact cotton prices in Pakistan. The cotton sowing season is currently starting in Pakistan and the predicted drop in cotton price owing to import of yarn from India is approximately 10-15 per cent, discouraging farmers not to sow cotton, according to the Aptma. On Thursday, India said it desires normal neighbourly relations with Pakistan and is committed to resolving all issues bilaterally in a peaceful manner. Prime Minister Khan on Saturday welcomed the ceasefire agreement with India and said Islamabad remains ready to move forward to resolve "all outstanding issues" through dialogue. SEE ALSO: <a href="https://www.businessinsider.in/india/news/bharat-bandh-over-eight-crore-traders-across-india-shut-shop-in-protest-against-rising-fuel-prices-and-changes-in-gst-rules/articleshow/81223361.cms">Bharat Bandh – over eight crore traders across India shut shop in protest against rising fuel prices and changes in GST rules</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Ignore low CIBIL score for street vendor loans, work on holidays, and other diktats from Indian government to banks rushing to meet March target</a> <a href="https://www.businessinsider.in/india/news/india-now-allows-you-to-avail-a-discount-on-flight-ticket-if-you-are-not-carrying-a-check-in-baggage/articleshow/81225977.cms">India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage</a>

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CIBIL Score vs CIBIL Report - check out the differences

BI India Bureau

Transunion Cibil says data reporting to be in line with moratorium guidelines

PTI

Pakistan likely to import cotton from India after announcing LoC ceasefire

PTI

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