Question

How is "credit scoring" defined under the Credit

Q: Answer-How is 'credit scoring' defined under the Credit Information Companies (Regulation) Act, 2005?

Section 2. Definitions g credit scoring means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him.

Information Companies (Regulation) Act, 2005?

A A system for determining the interest rates for loans and advances

B A system for assessing the financial health of a credit institution

C A system for determining the amount of credit facility available to a borrower

D A system for managing the assets and liabilities of a credit institution

E A system for evaluating the risk of a borrower defaulting on their loan or advances

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How is "credit scoring" defined under the Credit

Solution