‘Banks seeking higher credit scores for loans’
Post 2008, banks have also become more careful and reduced their exposure to unsecured debt such as credit cards and personal loans.
Data available with CIBIL reveals that credit enquiries have risen since the second quarter of 2009 and more than 20 per cent of these were by financial institutions while processing applications for auto loans. In fact, the number of auto loan enquiries made to CIBIL jumped by 28 per cent in the October to December quarter of 2012 as against a year ago.
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