All Cibil Eggs in One Basket
This refers to ‘For Retail Borrowers, Good Score is No Credit’ (Apr 27). Both 850 and 750 Cibil scorers ends up paying the same interest rate. Actually, the retail lending model is based on a template where certain parameters are to be satisfied for home, auto or personal loan. While the difference between highestand lowestrated borrowers can be 100 basis points in developed nations, we haven’t matured to that level. Though RBI governor has highlighted this fact, a change may be some time away.