"Dream, Dream, Dream! Conduct these dreams into thoughts, and then transform them into action."
- Dr. A. P. J. Abdul Kalam
The Credit Information Bureau of India (CIBIL) has declared that from December onwards, Individuals will be able to get a free copy of their credit history, once a year. At present, people have to shell out 550/- to CIBIL to obtain the same. The credit report has in the recent years gained immense importance as a lot of things are dependent on it. Banks verify them before giving loans to an individual. Telecom companies access them to allocate limits for post-paid customers. Certain Insurance companies too look at them before allotting a policy.
CIBIL will have an online system in place by December which will enable the individuals to download their free report. The free credit report however, will not include the credit score. Still, individuals will be able to access their credit history, submitted to the bureau by banks and other lenders. They can raise a dispute if there is any incorrect information submitted to the bureau.
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