Abstract
For the purpose of ascertaining credit worthiness of the borrowing entity the concept of credit score has been introduced. Actually, credit score is a numerical expression which is based on statistical analysis of a person's credit files to represent the credit worthiness of that person. Today credit scoring is not limited to bank only. Credit scores are calculated by considering different factors in a person's financial history. The Fair Isaac Corporation created the first credit scoring system. Different countries like Australia, Canada, USA has already accepted the system of credit scoring. CIBIL is the India's first credit information bureau established on 2000 by the Government of India and Reserve Bank of India.
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