CSC cibil-TransUnion CIBIL and Digital India’s Common Service Centers (CSCs) have celebrated the first year of their partnership by providing over 150,000 consumers, primarily from rural India, with easy access to their CIBIL Score and Credit Report. Announced in July 2020, the collaboration helps consumers check their CIBIL Score and Report at Common Service Centers (CSCs).
TRANSUNION CIBIL AND CSC PARTNERSHIP BENEFITS 1.5 LAKH CONSUMERS IN THE FIRST YEAR
Aimed at increasing credit consciousness in rural and semi-urban areas, 72% of the consumers who accessed their CIBIL Score and Credit Report at the CSCs hailed from non-tier 1, 2, and 3 cities. The pan-India partnership saw the largest count of consumers opting to check their CIBIL Score and Reports come from the north-zone (33%), while the east, west, and south zones contributed 27%, 25%, and 15%, respectively.
While 81% of these consumers had a 3-digit numeric CIBIL Score, 19% were not eligible for a CIBIL Score as they may not have any credit history on the consumer bureau. Additionally, out of those who were eligible for a 3-digit numeric CIBIL Score, 62% had a Score of 720+; 18% had a score ranging from 680-719 and 20% had a score between 300 and 679. The average CIBIL Score was 721.
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This pioneer collaboration has enabled consumers to access their credit profiles, understand the importance of their CIBIL Scores and Credit Reports, and empowered them to utilize formal credit opportunities. State-level data analysis indicated that the highest number of consumers who used this facility came from Uttar Pradesh (16%), followed by Maharashtra (12%) and Haryana (7%).
ट्रांसयूनियन सिबिल और डिजिटल इंडिया के कॉमन सर्विस सेंटर्स (सीएससी) ने 150,000 से अधिक उपभोक्ताओं को, मुख्य रूप से ग्रामीण भारत से, अपने सिबिल स्कोर और क्रेडिट रिपोर्ट तक आसान पहुंच प्रदान करके अपनी साझेदारी के पहले वर्ष का जश्न मनाया है। जुलाई 2020 में घोषित, सहयोग उपभोक्ताओं को उनके CIBIL स्कोर और कॉमन सर्विस सेंटर (सीएससी) पर रिपोर्ट की जाँच करने में मदद करता है।
Commenting on the growth seen in credit consciousness and awareness at the grassroots level, Dr Dinesh Tyagi, MD, CSC e-Governance Services India said: “Low awareness about credit health in rural communities has been a cause of concern as these consumers are unable to access the financial opportunities that come with having a good CIBIL Score. Our joint effort is aimed at bridging this gap and helping rural consumers become financially confident and credit-savvy. It gives us immense happiness to see the fruits of this collaboration come alive.”
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“Increased credit consciousness leads to positive credit behavior as consumers understand the impact of their credit activity on their CIBIL Score and access to finance. With many credit institutions offering better terms and conditions and lower rates of interest for borrowers with a higher CIBIL score, it is advantageous for consumers to monitor and maintain a healthy credit profile. TransUnion CIBIL is committed to ensuring that each consumer is reliably and safely represented in the marketplace so that they can access economic opportunities easily.”
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