A recent press report said that the largest lender of the country, State Bank of India has entered the team of members for credit information agency, Experian.
Reports said that major lenders in India have so far been subscribing to CIBIL for getting their required credit details including SBI. But with opening up of new service providers like Experian, lenders are getting more options to select on.
According to Experian State Bank is the largest lender and the addition of its credit data will further increase the Experian’s data coverage and enhance the effectiveness of our range of products and services.
Mr. Pardeep K. Khosla, chief general manager, SBI told the press that the bank was pleased to be a member of Experian. He also said that the bank believes that the membership will help better leverage the multi-bureau environment and enable the bank to use data and analytics, and also manage credit risk and leverage its opportunities better way.
SBI has cancelled its teaser loans (home loan) but it has hiked its interest rates due to the continuous hike in the base rates by the Reserve Bank of India. SBI’s loan portfolio includes home loans, personal loans, car loan, education loan, mortgage loan etc.