CIBIL and CIR are mere formality and eyewash as the prospective borrower conceals many vital info while applying for loan.How a banker can ascertain the details compiled to be realistic as many prospective borrowers having no credit card/debit card/borrowing for the first time /entrepreneur wanting to start new biz etc,how the CIBIL and CIR come into play?Therefore there is no foolproof method to assess the genuineness of the borrower no matter what report is compiled.A borrower can have multiple banking and must have borrowed in different names of the biz from banks.Where the CIBIL/CIR stand?So a good borrower can be a worst borrower which only time will tell.
