It is the statistical summary of the individual bits of information on the credit report of an entity. A credit score predicts how likely it is that a company or individual will repay debts. Banks use this information to take a decision whether to sanction the loan or not and if so, the applicable rate of interest.
Video from our Channel
- Hubble Constant, Doppler Effect, Blue and Red Shift in Galaxies
- Ancient Metal Sculpture in India
- What is earliest evidence of Banking in Ancient India?
- Is any part of Article 14 of the Indian Constitution above the recognition of exceptions and qualifications on special grounds?
- Kautilya’s System of Tax Administration