MUMBAI, AUG. 14 | Business Line
Credit Information Bureau of India Limited (CIBIL) has launched its first ever television advertising campaign that focuses on the need for a high score for individuals when applying for loans and credit cards from banks and other lending institutions.
The commercial is the first on credit scores and credit reports in India. Commenting on the campaign, Arun Thukral, Managing Director, CIBIL said, “The CIBIL TransUnion Score and credit report have been a key criteria in lending decisions in India for a large part of the last decade. Our campaign emphasises the importance of the score in the lending process. This could provide consumers access to loans more easily.”
Almost every loan application in the country is evaluated using the CIBIL TransUnion Score and credit report.
Based on data analysis, 77 per cent of all borrowers have a credit score of 750 or more. In addition, 79 per cent of all new loans sanctioned are to borrowers with a credit score of 750 or more. This would imply that the majority of borrowers get a loan because they have built a good credit history.
Harshala Chandorkar, Senior Vice-President, said most customers who are diligent with payments build ‘reputational collateral.’
“This basic philosophy is weaved into the commercial. We arrived at the punch line of the commercial, which is ‘Aaj kal duniya main aage badne ke liye naam nahin number zaroori hai’ (To get ahead in life one needs a number and not a name).”
Source : http://goo.gl/g1TqM5
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