Negative credit report items are automatically removed from your report. When? It depends. Highlights: Most negative information generally stays on credit reports for 7 years Bankruptcy stays on your credit report for 7 to 10 years, depending on the bankruptcy type In our earlier post “CIBIL – Explained Better”- CIBIL SCORE – ‘Reason behind the…
Finance Minister Piyush Goyal unveiled ‘Project Sashakt’, a five-prong strategy to deal with non-performing assets. Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks. What is Project Sashakt? Project Sashakt was proposed by a panel led by PNB chairman Sunil Mehta. The Five-Prong Approach is as under:- 1. Outlining SME Resolution approach for…
PNB today said it has segregated its loan appraisal and monitoring system and created various verticals to reduce credit risk, in the aftermath of the Rs 14,000-crore Nirav Modi fraud.