ranjan

Financial institutions provide loans depending upon the credit worthiness of prospective buyers through CIBIL score. In many cases, a large number of potential borrowers deprive of loans due to unimpressive credit history. It does not mean that they come in the list of defaulters. Ignoring such customers is not in the favor of Lenders too, because they lose business. Various macro and microeconomic factors govern the financial institutions are responsible for bringing these institutions closer to risks. Lending is one of the key operations of Banks and NBFCs that generates revenues for them, but loans cannot be sanctioned to anyone. Industries like Real Estate, automobiles, health education also bear the brunt of it because the money is expected to be spent in these sectors. To sum up, strict CIBIL score is not the ultimate way to decide the credit worthiness of loan seekers. To overcome its demerits, Artificial intelligence emerges as the most accurate, instant and practical meth