To understand the client’s behavior, information and patterns in credit market.
Survey is administered on a heterogeneous data from 8 prominent cities of India – Delhi, Calcutta,
Mumbai, Pune, Chennai, Bangalore, Hyderabad and Ahmedabad. We interviewed more than
respondents from these cities face to face and telephonically depending on the ease of the
respondent. The data administered was made a have a mix of genders and income groups. It was
interesting to see that the reasons of credit impairment and subsequent restoration remained more or
less uniform throughout the base.
3.3 Awareness of Bureau:
A credit bureau is defined as a repository of data relating to credit history of an individual. The
approach for consolidating such data is to see a pattern in consumer’s credit behavior and an insight
to his financial behavior. One of the most important C’s of credit. The other two being Collateral and
According to the survey findings Credit awareness in India has a long way to go, with more than 85%
of the respondents not being aware of credit Bureau. Delhi and Pune still led the country with 4 out
of 1 respondent being aware of credit bureaus.
3.4 Awareness on Credit Report and Score:
The financial statements kept and published in a consolidated form is called credit report. Bureaus
arrive at a 3 digit score using an established formula, this 3 digit score is known as Credit Score and
is used as a reference point to understand consumer’s tendency and credit behavior. An
overwhelming 92% was not aware of this parameter.
Delhi, Bangalore and Pune had more than 10% respondents knowing their score.
3.5 Reviewed Credit Score in last 1 year:
A mere 4% had reviewed their Credit score in last 1 year.
3.6 Understanding Credit Report:
Understanding and analyzing Bureau report could be a task difficult to comprehend. 98% of the
respondents who took the survey were unable to comprehend the report that was shared with them.
3.7 Credit Protection:
Protection of credit appears to remain a major concern. As a nation with an increasing appetite for
consumerism, credit usage and internet proliferation, none of the people had taken any steps to
protect their identity from theft.
None of the respondents had protection against ATM assault, theft and on lost wallet.
Only 5% of the respondents who took this survey had protection against fraudulent usage on their
3.8 WILL and Tax Optimization:
WILL is an important tool when it comes to securing inheritance and ensuring a dispute free transfer
of assets. Only 1% of the respondents have made a will and further more had no idea or will to make
or understanding of a WILL.
We also attempted to understand how people deal with their issues on taxation. 17% of the
customers have taken help for tax optimization.