XCIBIL 2.8.5

Company or individuals pay loans or EMIs on time to banks to maintain a positive credit report. However, when it comes to paying wholesalers, retailers, manufacturers, or friends, payments are often delayed or ignored due to the lack of tools to track such transactions, which do not impact their banking credit score.

XCIBIL addresses this issue effectively. It provides a platform where borrowers' creditworthiness is evaluated, and lenders can validate transactions by sending transaction details via SMS, making borrowers accountable for timely payments. Failure to pay can result in the lender marking the amount as default, impacting the borrower's credit score negatively. This system incentivizes borrowers to pay on time for transactions recorded via the XCIBIL application.

Key XCIBIL Application Features:

1. Credit report: Now you can assess the creditworthiness of borrowers before engaging in financial transactions.
2. Record transaction: A centralized application for recording all financial transactions, including goods, cash, and services.
3. Settlement service: Borrowers are encouraged to settle unpaid amounts promptly to uphold or enhance their credit scores.