behavioural skills

Lender survey report on moratorium

Survey. lendersDownload As mentioned in our previous blogs on moratorium - We designed and constructed a survey, to interview industry leaders, with an aim to learn from their experiences of offering moratorium to their customers. Interviewing several business leaders at mid- size to large-scale, non-banking finance companies, housing finance companies, lenders with financial inclusion focus, and newer Fintech companies, our study scope encompassed all retail lending products. The objective is to learn from these approaches, experiences, outcomes, and bring…

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Lazy-password-syndrome-LPS

Lazy Password Syndrome

Laziness is a universal syndrome – even the most active person, at some time succumbs to it! Strangely, it hits us in the most unlikely manner and in the most unlikely aspect of our life. The other unique aspect of this syndrome is we often allow it to creep up on us and then justify its impact.    Technology is meant to make life easier for us, protect us and our data and ensure privacy of personal information. From our simple…

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Getting married? Don’t fall for some credit myths!

When you take your vows and promise to be true in good times and in bad, do you end up saying “I do” to your spouse’s bad credit history as well? Marriage is a union of two souls and from a financial standpoint, it means saving for the future, buying a dream home or planning for your child’s education. Marriage can also have an impact on your credit score. Whilst, your “marital status” as such does not impact your credit score, there are certain myths that…

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The Unholy Trinity Recall

6/6/2020 I hope you found my first blog relevant and it made useful reading.  Taking reference of the trinity analogy, I believe we had yet another unholy trinity event. Rajasthan experienced an intense locust swarm invasion attack, affecting about 90,000 hectares across 20 districts, which disappeared as mysteriously as it appeared.  While the Corona pandemic continues, we had two cyclones, back to back.  The Orissa – West Bengal cyclone was devastating and caused many more deaths and much more damage – the more recent one on the west coast was…

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Moratoriums and the unholy trinity

Hi, This is the first of a series of initiatives we are taking to address the moratorium announced by RBI. The focus is to create awareness amongst borrowers, more the retail borrower, and thus enable a more informed decision and also to put forth an independent unbiased view of the impact and consequences of the two stage moratorium. At this stage, of course we do not know if there will be a third moratorium and if so, in what shape and manner. …

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Loan application rejected – What’s next?

Have your ever applied for an auto loan, a home loan or a personal loan? What if the loan application got rejected? What to do next? Rejection of any kind is one of the greatest fears that lies within us. But there is also a way to address this. Put on your thinking cap to understand the few ways on what to do next when your loan application gets rejected. Know and understand: Check with the credit institution to know the reason for the rejection-read it…

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Moratorium – ” a solution or a problem”

If ever there was a googly or a curve ball – its COVID – 19. Call it whatever you want – even call it World War III – against an unseen enemy, across the world, no end in immediate sight and a truly global war across religion, cast, creed, gender and country. Everyone is talking about the new “normal” – and the problem is no one knows what the new normal will be. Or when will all this end…leave alone how! Economic disaster, financial…

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NEW YEAR…NEW DECADE…NEW BEGINNINGS..

I had slipped into a fairly long self imposed sabbatical on writing my blogs and now, feeling the need, I am starting again to write - and thus the title of my first blog version 2.0. In ophthalmic terms,  20/20 means clarity or sharpness of vision. Ironically, 2020 has started with anything but that. Anywhere you look there is uncertainty, concern and a looming feeling of upcoming serious problems.. The US-China trade war, The most recent eye to eye of USA and Iraq,…

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“Follow These 10 Commandments And Credit Cards Wont Rule Your Life”

My secretary discovered the other day that I was the former MD of CIBIL and sheepishly requested for advice – she was getting calls from recovery agents saying and threatening that if she did not pay her outstanding dues on her 5 credit cards, her name would be reported to CIBIL and she would never again get a loan or a credit card in her life! In my mind I am thinking – wow, what did I help build! An organization - a concept…

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No credit to credit: 3 ways!

Your loan application is rejected because you don’t have any credit history? How do you build your credit history ? Well yes it’s a cycle of credit and credit again! As per two recent notification by the Reserve Bank of India, all banks and other lenders need to take into account 'credit information reports (CIRs)' from one or more agencies in all lending decisions and account opening, and also a loan applications should not be rejected just because the applicant has no credit history. So let’s get…

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