What is credit history? How does a financial institution check on my credit history?

A credit history is a record of your past repayments of loans and credit card bills. Credit Bureau of India Limited (CIBIL) maintains this credit history, by compiling data from all the banks on existing loans and the repayment history of their customers. Before approving your loan a financial institution always checks with CIBIL on your loan repayment track record.

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