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What Transactions Do Banks Report to IRS?By Joseph Nicholson, eHow Contributor

Crime doesn't pay, but when it does, it's usually in cash. Since 1970, the federal

government has used mandatory reporting of large cash transactions from financialinstitutions as part of its arsenal against crime. n fact, the !epartment of "reasury, theagency that includes the #S, has an entire division dedicated to analy$ing the reports andidentifying criminal activity.

1. Functiono The original purpose of reporting requirements was to target money

laundering. The scope was expanded in 1996 to include any activities deemed suspicious orfraudulent by a bank teller or institution. The compulsory reporting also serves to indemnifythe banks and their employees against charges of violating a client's privacy by reportingfinancial transactions.

Typeso There are two main reporting requirements for banks. The first and most

common with more than 1! million being filed in calendar year "##$ is the currencytransaction report or %T&. These are triggered simply because of the si e of the transaction.The second type is called a suspicious activity report or ()& and is filed when the bank*knows suspects or has reason to suspect* that a transaction of at least +! ### involvesmoney derived from illegal activities or is part of a plan to violate federal laws and financialreporting requirements.

Sizeo ) %T& is required for every deposit withdrawal or exchange over +1# ### in

cash. ,ire transfers or transactions by check and non-cash means are not sub ect to the%T& filing requirement. The requirements apply to all accounts whether individual groupor corporate regardless of their si e. /anks are also required to aggregate all cashtransactions made by or on behalf of an account on the same business day and at all branchlocations. Transactions over the weekend or on holidays are treated as if made on thefollowing business day. 0f the aggregate total is +1# ### or more a %T& is required.

Featureso ost %T& filings are submitted electronically with bank systems

programmed to automatically generate a report when the requirements are met. 0n additionto the amount of the transaction the %T& includes data on the person or entity conductingthe transaction information on any agents acting on the account holder's behalf andinformation about the financial institution itself. The bank employee conducting thetransactions can also indicate on the form if he suspects the transaction is related to crimeor fraud.

Significance

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o 2ederal state and local law enforcement use the information on the %T&reports to track potential illegal activity. 0n addition to money laundering the %T& isessential to identifying terrorist financing drug trafficking and tax fraud.

Considerationso /anks can file with the 0&( to exempt individuals from the %T& requirements.

)s a matter of fact more than 6# ### such applications were filed in "##$ though it's notclear how many were granted or for what reasons.

How Much Can You Deposit Into Your BankAccount Before They Report It to the IRS?

By Chris Hamilton, eHow Contributor

%an&s do not report deposits made into a ban& account to the nternal #evenue Servicee cept under abnormal circumstances, and reporting does not depend upon the totalamount of money in the account. "he #S primarily wants to discover suspicioustransactions where deposited funds have been ac(uired through illicit means. )or thisreason, the #S sets limits on the types of transactions that ban&s must report, re(uiringban&s to report all cash deposits of *10,000 or more.

1. Benefitso %ongress passed the /ank (ecrecy )ct of 19$# in order to locate instances of

money laundering and tax evasion. 0&( rules on bank reporting requirements primarily help

law enforcement locate and prosecute individuals in the business of selling illegal drugs. 0nthe wake of the 9311 terrorist attacks on the ,orld Trade %enter bank reporting laws underthe /ank (ecrecy )ct also help shut down sources of terrorist financing within the 4nited(tates.

Typeso The 0&( requires banks to report using 2orm 5 ## any cash bank deposit of

+1# ### or more in value. The 0&( defines cash as currency or coins that are legal tender inthe 4nited (tates or another country. /anks do not report personal checks deposited into anaccount regardless of the amount because such monies are traceable due to the funds beingdrawn on another customer's account. 0f a bank account owner deposits a cashier's check

bank draft money order or traveler's check into their account of +1# ### or more and the bank believes the money will be used for criminal activity the bank must report thistransaction using 2orm 5 ##.

Related Transactionso (ome money launderers terrorists or tax dodgers will make smaller deposits

to avoid reporting requirements. 0f a customer deposits more than +1# ### into his accountin separate transactions over a "7-hour period the bank must count all the deposits as one

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transaction for reporting requirements. 0f a bank suspects a depositor is placing money atregular intervals into an account to avoid reporting the institution also must report thesetransactions to the 0&(.

Filingo /anks will mail 2orm 5 ## within 1! days after a reportable transaction takesplace. This form requires the bank to list its business information and the personal

information of the depositor. 0n addition the bank must describe the amount of thetransaction and how the bank received the funds. )fter finishing the form banks will sendthe form to the 0&( 8etroit %omputing %enter.

Currency transaction reportFrom Wikipedia, the free encyclopedia

This article has multiple issues . Please help improve it or discussthese issues on the talk page .

This article does not cite any references orsources . (March 2011)

This article needs more links to other articles to help integrateit into the encyclopedia . (November 2012)

A currency transaction report (CTR ) is a report that U.S. financial institutions are required to file for each

deposit, withdrawal, e chan!e of currency, or other payment or transfer, "y, throu!h, or to the financial

institution which in#ol#es a transaction in currency of more than $%&,&&&. Used in this conte t, currency means

the coin and'or paper money of any country that is desi!nated as le!al tender "y the country of issuance.

Currency also includes U.S. sil#er certificates , U.S. notes , Federal eser#e notes , and official forei!n "ank

notes.

History [edit ]

When the first #ersion of the C was introduced, the only way a suspicious transaction less than $%&,&&& was

reported to the !o#ernment was if a "ank teller called law enforcement. his was primarily due to the financial

industry*s concern a"out the ri!ht to financial pri#acy. +n +cto"er -, % /-, with the passa!e of the 0oney1aunderin! Control Act , the ri!ht to financial pri#acy was no lon!er an issue. As part of the Act, Con!ress had

stated that a financial institution could not "e held lia"le for releasin! suspicious transactional information to law

enforcement. As a result, the ne t #ersion of the C had a suspicious transaction check "o at the top. his

was in effect until April % - when the Suspicious Acti#ity eport (SA ) was introduced.

Procedure [edit ]

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When a transaction in#ol#in! more than $%&,&&& in cash is processed, most "anks ha#e a system that

automatically creates a C electronically. a and other information a"out the customer is usually pre2filled "y

the "ank software. C s since % - include an optional check"o at the top if the "ank employee "elie#es the

transaction to "e suspicious or fraudulent, commonly called a SA , or Suspicious Acti#ity eport. A customer is

not directly told a"out the $%&,&&& threshold unless they initiate the inquiry. A customer may decline to continue

the transaction upon "ein! informed a"out the C , "ut this would require the "ank employee to file a SA .

+nce a customer presents or asks to withdraw more than $%&,&&& in currency, the decision to continue the

transaction must continue as ori!inally requested and may not "e reduced to a#oid the filin! of a C . For

instance, if a customer rene!es on their initial request to deposit or withdraw more than $%&,&&& in cash, and

instead requests the same transaction for $ , , the "ank employee should deny such a request and continue

the transaction as ori!inally requested "y filin! a C . his sort of attempt is known as structurin! , and is

punisha"le "y federal law a!ainst "oth the customer and the "ank employee. 3nformed indi#iduals who

structure their transactions at an amount near, "ut not o#er $%&,&&& could ha#e their accounts closelymonitored "y tellers and "ank staff to see if a pattern emer!es that could warrant the filin! of a SA .

2rom 204-0:8 website; http://fiuindia. o!.in/

A.

+#er#iew of eportin! under 401A

he 4re#ention of 0oney2launderin! Act, && , and the rules thereunder require e#ery "ankin! company,financial institution and intermediary, to furnish to F3U2356 information relatin! to 2

7modified "y 5otification 5o. 8' &&9 dated 82&:2 &&9;ankin! Company means a "ankin! company or a co2operati#e "ank to which the ;ankin! e!ulation Act, % 8

applies and includes any "ank or "ankin! institution referred to in section :% of that Act. ;ankin! Companyincludes

i. All "ankin! companies namely nationali<ed "anks, pri#ate 3ndian "anks and pri#ate forei!n "anks,

ii. All co2operati#e "anks #i<. primary co2operati#e "anks, state co2operati#e "anks and central co2operati#e"anks,

iii. State ;ank of 3ndia and its associates and su"sidiaries,

(A) All cash transactions of the #alue of more than rupees ten lakhs or its equi#alent in forei!n currency=(;) All series of cash transactions inte!rally connected to each other which ha#e "een #alued "elow rupees ten

lakhs or its equi#alent in forei!n currency where such series of transactions ha#e taken place within a month=(;A) All transactions in#ol#in! receipts "y non2profit or!anisations of #alue more than rupees ten lakh, or its

equi#alent in forei!n currency=7(C) All cash transactions where for!ed or counterfeit currency notes or "ank notes ha#e "een used as !enuine or

where any for!ery of a #alua"le security or a document has taken place facilitatin! the transactions=7(6) All suspicious transactions whether or not made in cash.

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i#. e!ional ural ;anks.Financial 3nstitution means a Financial 3nstitution as defined in clause (c) of section 8:23 of the eser#e ;ank of

3ndia Act, % >8 ( of % >8) and includes a chit fund company, a co2operati#e "ank, a housin! financeinstitution and a non "ankin! financial company. Financial 3nstitution includes?

i. Financial 3nstitutions as defined in Section 8:23 of the ;3 Act. ;3 re!ulates and super#ises / All2 3ndiaFinancial 3nstitutions namely @ 30 ;ank, 5A;A 6, 5B;, S36;3, 3FC3 1td., 36FC 1td., 33;3 1td. And FC3

1td.ii. 3nsurance companies,

iii. Bire 4urchase companies,

i#. Chit fund companies as defined in the Chit Funds Act.

#. Co2operati#e "anks.

#i. Bousin! finance institutions as defined in the 5ational Bousin! ;ank Act such as B6FC.

#ii. 5on2"ankin! financial companies as defined in section 8:23 of the ;3 Act such as pri#ate financecompanies 2 motor and !eneral, hire purchase companies, leasin! companies, in#estment companies etc.

#iii. Authorised person as defined in clause (c) of section of the Forei!n @ chan!e 0ana!ement Act, %

3ntermediary means a stock2"roker, su"2"roker, share transfer a!ent, "anker to an issue, trustee to a trust deed,re!istrar to an issue, merchant "anker, underwriter, portfolio mana!er, in#estment ad#iser and any otherintermediary associated with securities market and re!istered under section % of the Securities and@ chan!e ;oard of 3ndia Act, % (%: of*% ). 3ntermediary includes followin! persons re!istered underSection % of S@;3 Act?2

i. Stock "rokers

ii. Su"2"rokers

iii. Share transfer a!ents

i#. ;ankers to an issue

#. rustees to trust deed

#i. e!istrars to issue

#ii. 0erchant "ankers

#iii. Underwriters

i . 4ortfolio 0ana!ers

. 3n#estment ad#isers

i. 6epositories and 6epository 4articipants

ii. Custodian of securit ies

iii. Forei!n institutional in#estors

i#. Credit rat in! a!encies

#. enture capital funds

#i. Collecti#e in#estment schemes includin! mutual funds73nserted "y 5otification 5o. %>' && dated % 2%%2 &&

Cash Transaction Reports

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he 4re#ention of 0oney2launderin! Act, && , and rule thereunder require e#ery "ankin! company, financialinstitution and intermediary, to furnish to F3U2356 information relatin! to 2

A. All cash transactions of the #alue of more than rupees ten lakhs or its equi#alent in forei!n currency=

;. All series of cash transactions inte!rally connected to each other which ha#e "een #alued "elow rupees tenlakhs or its equi#alent in forei!n currency where such series of transactions ha#e taken place within amonth=

Suspicious Transaction Reports

@#ery "ankin! company, financial institution and intermediary shall furnish to F3U2356 information of all suspicioustransactions whether or not made in cash.

Suspicions transaction means a transaction referred to in clause (h), includin! an attempted transaction, whether ornot made in cash which, to a person actin! in !ood faith 2(a) !i#es rise to a reasona"le !round of suspicion that it may in#ol#e proceeds of an offence specified in the Scheduleto the Act, re!ardless of the #alue in#ol#ed= or (") appears to "e made in circumstances of unusual or unDustified comple ity= or (c) appears to ha#e no economic rationale or "onafide purpose= or (d) !i#es rise to a reasona"le !round of suspicion that it may in#ol#e financin! of the acti#ities relatin! toterrorism=7

7Amended #ide 5otification 5o 8' &&9 dated 82&:2 &&9 and 5otification 5o. %>' && dated % 2%%2 &&

;road cate!ories of reason for suspicion and e amples of suspicious transactions for a "ankin! company areindicated as under?

Identity of client

2 False identification documents2 3dentification documents which could not "e #erified within reasona"le time2 Accounts opened with names #ery close to other esta"lished "usiness entities

Background of client2 Suspicious "ack!round or links with known criminals

Multiple accounts2 1ar!e num"er of accounts ha#in! a common account holder, introducer or authori<ed si!natory

with no rationale2 Une plained transfers "etween multiple accounts with no rationale

Acti ity in accounts2 Unusual acti#ity compared with past transactions2 Sudden acti#ity in dormant accounts2 Acti#ity inconsistent with what would "e e pected from declared "usiness

!ature of transactions2 Unusual or unDustified comple ity2 5o economic rationale or "onafide purpose2 Frequent purchases of drafts or other ne!otia"le instruments with cash2 5ature of transactions inconsistent with what would "e e pected from declared "usiness

"alue of transactions

2 alue Dust under the reportin! threshold amount in an apparent attempt to a#oid reportin!2 alue inconsistent with the clientEs apparent financial standin!

;road cate!ories of reason for suspicion and e amples of suspicious transactions for an intermediary are indicatedas under?

Identity of Client

# False identification documents2 3dentification documents which could not "e #erified within reasona"le time

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2 5on2face to face client2 6ou"t o#er the real "eneficiary of the account2 Accounts opened with names #ery close to other esta"lished "usiness entities

Suspicious Background# Suspicious "ack!round or links with known criminals

Multiple Accounts# 1ar!e num"er of accounts ha#in! a common account holder, introducer or authori<ed si!natory

with no rationale2 Une plained transfers "etween multiple accounts with no rationaleActi ity in Accounts

# Unusual acti#ity compared to past transactions2 Use of different accounts "y client alternati#ely2 Sudden acti#ity in dormant accounts2 Acti#ity inconsistent with what would "e e pected from declared "usiness2 Account used for circular tradin!

!ature of Transactions# Unusual or unDustified comple ity2 5o economic rationale or "onafide purpose2 Source of funds are dou"tful2 Appears to "e case of insider tradin!2 3n#estment proceeds transferred to a third party2 ransactions reflect likely market manipulations

2 Suspicious off market transactions"alue of Transactions

# alue Dust under the reportin! threshold amount in an apparent attempt to a#oid reportin!2 1ar!e sums "ein! transferred from o#erseas for makin! payments2 3nconsistent with the clients apparent financial standin!2 3nconsistency in the payment pattern "y client2 ;lock deal which is not at market price or prices appear to "e artificially inflated'deflated

Counterfeit Currency Reports

he 4re#ention of 0oney2launderin! Act, && , and rule thereunder require e#ery "ankin! company, financialinstitution and intermediary, to furnish to F3U2356 information relatin! to all cash transactions where for!ed or

counterfeit currency notes or "ank notes ha#e "een used as !enuine or where any for!ery of a #alua"le security or adocument has taken place facilitatin! the transactions.

Methods of filing Reports

Method Status

0anual Filin! A#aila"le

@lectronic Filin! on C6 A#aila"le

@lectronic filin! o#er secure !ateway 5ot A#aila"le

$ue $ates for filing Reports

Report $escription $ue $ate

C All cash transactions of the #alue of more than rupees ten lakhs or its equi#alent inforei!n currency.

%:th day of thesucceedin!month

All series of cash transactions inte!rally connected to each other which ha#e "een

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#alued "elow rupees ten lakhs or its equi#alent in forei!n currency where such series oftransactions ha#e taken place within a month

CC All cash transactions where for!ed or counterfeit currency notes or "ank notes ha#e"een used as !enuine or where any for!ery of a #alua"le security or a document hastaken place facilitatin! the transactions7

5ot later thanse#en workin!days from thedate of

occurrence ofsuchtransaction7

S All suspicious transactions whether or not made in cash 5ot later thanse#en workin!days on "ein!satisfied thatthe transactionis suspicious7

7modified by Notification No. 4/2007 dated 24-05-2007 .

Reporting %or&ats

Reporting %or&atelease of eportin! Format under F35neteportin! Format uide ersion .&01 Schemaseport eneration Utility User uide %.& eport alidation Utility User uide %.&

Cash Transaction Report 'CTR( for a Banking Co&pany)!B%Ceportin! format of C for a ;ankin! Company ersion %.& (Word 6ocument)eportin! format of C for a ;ankin! Company ersion %.& (46F format)

Summary of C s for a ;ankin! Company (@dita"le 46F format)C for a ;ankin! Company (@dita"le 46F format)

Anne ure A2 3ndi#idual 6etail Sheet for a ;ankin! Company (@dita"le 46F format) Anne ure ;2 1e!al 4erson'@ntity 6etail Sheet for a ;ankin! Company (@dita"le 46F format)

Cash Transaction Report 'CTR( for an Inter&ediaryeportin! format of C for an 3ntermediary ersion %.& (Word 6ocument)eportin! format of C for an 3ntermediary ersion (46F Format)

Summary of C s for an 3ntermediary (@dita"le 46F format)C for an 3ntermediary (@dita"le 46F format)

Anne ure A2 3ndi#idual 6etail Sheet for an 3ntermediary (@dita"le 46F format) Anne ure ;2 1e!al 4erson'@ntity 6etail Sheet for an 3ntermediary (@dita"le 46F format) Cash Transaction Report 'CTR( for Authori*ed Persons and Pay&ent Syste& +perators

eportin! Format of C for Authori<ed 4ersons and 4ayment System +perators (Word 6ocument)eportin! Format of C for Authori<ed 4ersons and 4ayment System +perators (46F Format)

Cash ransaction eport for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)

ransaction 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format);ranch 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)3nstrument 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)3ndi#idual 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)1e!al 4erson'@ntity 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format) $ata ,uality Report for CTRSample 6ata Guality eport (pdf format)@ planatory 5ote to 6ata Guality eport (pdf format)

Suspicious Transaction Report 'STR( for a Banking Co&pany)!B%C

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eportin! format of S for a ;ankin! Company ersion %.& (Word 6ocument)eportin! format of S for a ;ankin! Company ersion %.& (46F format)

S for a ;ankin! Company (@dita"le 46F format) Anne ure A2 3ndi#idual 6etail Sheet for a ;ankin! Company (@dita"le 46F format) Anne ure ;2 1e!al 4erson'@ntity 6etail Sheet for a ;ankin! Company (@dita"le 46F format) Anne ure C2 Account 6etail Sheet for a ;ankin! Company (@dita"le 46F format)

Suspicious Transaction Report 'STR( for an Inter&ediaryeportin! format of S for an 3ntermediary ersion %.& (Word 6ocument)eportin! format of S for an 3ntermediary ersion %.& (46F format)

S for an 3ntermediary (@dita"le 46F format) Anne ure A2 3ndi#idual 6etail Sheet for an 3ntermediary (@dita"le 46F format) Anne ure ;2 1e!al 4erson'@ntity 6etail Sheet for an 3ntermediary (@dita"le 46F format) Anne ure C2 Account 6etail Sheet for an 3ntermediary (@dita"le 46F format)

Suspicious Transaction Report 'STR( for Authori*ed Persons and Pay&ent Syste& +peratorseportin! Format of S for Authori<ed 4ersons and 4ayment System +perators (Word 6ocument)eportin! Format of S for Authori<ed 4ersons and 4ayment System +perators (46F Format)

Suspicious ransaction eport for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)ransaction 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)

;ranch 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)

3nstrument 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)3ndi#idual 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)1e!al 4erson'@ntity 6etail Sheet for Authori<ed 4ersons and 4ayment System +perators (@dita"le 46F Format)

Counterfeit Currency Report 'CCR(eportin! format of CC ersion %.& (Word 6ocument)eportin! format of CC ersion %.& (46F format)

Counterfeit Currency eport (CC ) (@dita"le 46F format)Summary of Counterfeit Currency eport (CC S) (@dita"le 46F format)

Reporting %or&ats for !B%CsSame as reportin! format for ;ankin! Company

Reporting %or&ats for Insurers

eportin! Formats issued "y 3 6A for 3nsurers

Reporting %or&ats for Casinoseportin! Formats issued "y o#ernment of oa for the Casinos

Bome H elated Acts H +#er#iew

+ er ie-

elated Acts HH ;ankin! e!ulation Act, % 8elated Acts HH Chit Funds Act, % /elated Acts HH 63C C Act, % -%elated Acts HH 5A;A 6 Act, % /%

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elated Acts HH 5ational Bousin! ;ank Act, % /9elated Acts HH ;3 Act, % >8elated Acts HH S@;3 Act, %

77

.g&ont /rouphe @!mont roup ser#es as an international network fosterin! impro#ed communication and interaction amon!

F3Us. @!mont roup is named after the #enue in ;russels where the first such meetin! of F3Us was held in Iune of% :. he !oal of the @!mont roup is to pro#ide a forum for F3Us around the world to impro#e support to theirrespecti#e !o#ernments in the fi!ht a!ainst money launderin!, terrorist financin! and other financial crimes. hissupport includes?

e pandin! and systemati<in! international cooperation in the reciprocal e chan!e of financial intelli!enceinformation,

increasin! the effecti#eness of F3Us "y offerin! trainin! and personnel e chan!es to impro#e the e pertiseand capa"ilities of personnel employed "y F3Us,

fosterin! "etter and secure communication amon! F3Us throu!h the application of technolo!y, presently #iathe @!mont Secure We" (@SW), and

promotin! the esta"lishment of F3Us in those Durisdictions without a national anti2money launderin!'terroristfinancin! pro!ram in place, or in areas with a pro!ram in the "e!innin! sta!es of de#elopment.

;est 4ractices for the @ chan!e of 3nformation "etween Financial 3ntelli!ence Units (46F)

Asia)Pacific /roup

he Asia'4acific roup on 0oney 1aunderin! (A4 ) was officially esta"lished as an autonomous re!ional anti2money launderin! "ody in Fe"ruary % 9 at the Fourth (and last) Asia'4acific 0oney 1aunderin! Symposium in;an!kok , hailand . he purpose of the A4 is to facilitate the adoption, implementation and enforcement ofinternationally accepted anti2money launderin! and anti2terrorist financin! standards set out in the recommendationsof the Financial Action ask Force (FA F).

he A4 *s role includes assistin! Durisdictions in the re!ion to enact laws dealin! with the proceeds of crime, mutualle!al assistance, confiscation, forfeiture and e tradition. 3t also includes the pro#ision of !uidance in settin! upsystems for reportin! and in#esti!atin! suspicious transactions and helpin! in the esta"lishment of financialintelli!ence units. he A4 undertakes studies of methods and trends of money launderin! and the financin! ofterrorism in the Asia'4acific re!ion. he A4 allows for re!ional factors to "e taken into account in theimplementation of anti2money launderin! and anti2terrorist financin! measures and pro#ides for peer re#iew "ymeans of a mutual e#aluation process.

he A4 is a #oluntary and co2operati#e international "ody esta"lished "y a!reement amon! its mem"ers and is

autonomous. 3t does not deri#e from an international treaty nor is it part of any international or!anisation. Bowe#er, itkeeps itself informed of action taken or formal a!reements made "y rele#ant international and re!ional or!anisationsor "odies in order to promote a consistent !lo"al response to money launderin! and terrorist financin!. he work to"e done "y the A4 and its procedures is decided "y consensus a!reement amon! its mem"ers.

%urrency Transaction &eport - %T& Filed Under » American Stock Exchange , Money Laundering

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8efinition of '%urrency Transaction &eport - %T&'A bank form used in the United States to help pre ent moneylaundering! "he form must be filled out by a bank representati e #hohelps #ith a currency transaction of $%&,&&& or more!

0nvestopedia explains '%urrency Transaction&eport - %T&'

"he currency transaction report #as initiated by the 'ank Secrecy Actin %()&! *o#e er, not all transactions of $%&,&&& and more need toreported #ith a +" ! ecent legislation has identified certain groupskno#n as -exempt persons-!

"here are three categories of -exempt persons-! "hey are.

%! Any bank in the United States!/! 0epartments or agencies that fall under federal, state or localgo ernments! 1ncluding any organi2ations that exercise go ernmentauthority!3! Any corporation #hose stock is traded on the 45SE, 4asda6 andAmerican Stock Exchange 7excluding stocks listed on the Emerging+ompany Marketplace and under the 4asda6 Small8+ap 1ssuesheading9!

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,hat's <n ) %onsumer %redit &eport=May &) /&%3: Filed Under » +redit Agencies , +redit +ards , +redit eport , +redit

Score , E6uifax ,Experian , Federal "rade +ommission , F1+;

1n %(<(, 0iner=s +lub launched the first charge8card company! "oday, Americans spendmore using credit cards than they spend #ith cash! >ith more than $/ trillion #orth of

credit card transactions each year, the credit#orthiness of card users is an increasingly

important issue to creditors and consumers alike!

>hile most people reali2e that their personal credit#orthiness is tracked on something

called a credit report , fe# kno# much about it or their scoring system! "he score, kno#n as

a F1+; score , #as de eloped by Fair 1saac ? +o! to e aluate the likelihood that consumers

#ill pay their bills! F1+; scores range from a lo# of 3&& 7highest risk9 points to a high of

@ & points 7lo#est risk9 and are used as the deciding factor on more than ) B of credit

applications, according to E6uifax, one of the three maCor credit bureaus in the United

States!

1n determining the F1+; score, mathematical models are used to analy2e the data on an

applicant=s credit report, taking into consideration fi e factors. pre ious credit performance,

current le el of indebtedness, time credit has been in use, types of credit a ailable and

pursuit of ne# credit!

What's on the Report and Why Should I Care?

An in8depth look at a credit report pro ided by E6uifax pro ides a good o er ie# of the type

of information that can be obtained from any of the maCor credit reporting bureaus ! "he

E6uifax report is di ided into se en sections.

Personal Data

"he first section contains personal data, such as current and pre ious addresses, social

security number and employment history! "his is crucial data for identity thie es , so be sure

to protect it by making sure this information is correct and accurate, and if you discard it,

shred thoroughly!

Credit History

"he second section of the E6uifax report pro ides a summary of the applicant=s credit

history! 1t includes the number of accounts 7both open and closed9 held by the applicant,

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the type of accounts 7mortgage, installment, re ol ing or others9, the number of credit

in6uiries o er the last %/ months, the number of accounts that are past due as #ell as those

in good standing! 1ntuiti ely, it may seem like the more accounts you ha e open, the higher

your credit score #ill be, but #hen it comes to credit, more is not necessarily better!

>hen financial institutions re ie# your credit report prior to appro ing a loan, they often

assume that you #ill use all of the a ailable credit on your credit cards and factor8in the

monthly payments that #ould be re6uired to ser ice that debt! 1f you ha e a do2en credit

cards, all #ith 2ero balances, you might ha e no problem making a $/,&&& mortgage

payment each month, but the bank might look at the situation differently! 1f the bank

factors in your ability to make monthly payments on a do2en credit cards in addition to a

$/,&&& mortgage, your credit#orthiness may be diminished !

Account Details

"he third section pro ides detailed account information! 1t includes the name, account type,

account number, date opened, balance and status of e ery account on the applicant=s

record! A breakdo#n of each account pro ides payment history, date of last acti ity and

contact information for the credit issuer! "he section also includes a summary of past8due

accounts and accounts #ith a negati e credit history!

1f you disagree #ith any of this information, you ha e the right to challenge errors on your

credit report ! Under federal la#, the credit reporting agency then has 3& days to respond toyour challenge! 1f your challenge is successful, the offending information #ill be remo ed

from your report!

Inquiries

"he fourth section addresses in6uiries into the applicant=s credit history! 1n6uiries are

classified as -hard- or -soft!- *ard in6uiries are -generated #hen you authori2ed a company

listed to re6uest a copy of your credit report!- "he number of in6uiries o er a %/8month

period is tracked and taken into account #hen your F1+; score is calculated! An excessi e

number of hard in6uiries ha e a negati e impact on your score!

Soft in6uiries are generated by your current creditors checking on your status, credit card

issuers re ie#ing your file to see if they #ish to extend an unsolicited offer and you

personally checking your o#n credit! Dotential lenders don=t see these in6uirers #hen they

re ie# your credit report, and these in6uiries do not impact your credit report!

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Collections

"he fifth section details any accounts that ha e been turned o er to a credit agency! 1f you

failed to make payments and any of your accounts #ere sent to collection, information

about the delin6uent accounts appears here! Similarly, the sixth section of the report

pro ides information about liens, #age garnishments or other Cudgments that appear

against you in federal, state or county court records!

Dispute Issues

"he se enth section of the report pro ides information on ho# to dispute any of the

information on your credit report! >hen it comes to delin6uent accounts and other

damaging information, the only #ay to repair your credit is to #ait! 0espite the claims of

those late8night infomercials, once negati e information appears on your credit report, thereis little you can do to clear it up if the information is truthful and accurate! "he F"+ says

such information remains on your report for se en years, #ith se eral

exceptions. 'ankruptcy remains on your report for %& years la#suit8related information

remains until the suit is settled! "o a oid these problems, make all payments on time and

don=t ignore any issues that arise #ith creditors!

How That Information Impacts Your Score

Factors such as payment history, the length of time an indi idual has had credit and the

indi idual=s employment history all play a role in determining your F1+; score! So, e en

though you may ha e an excellent source of income and pay all of your bills on time and in8

full, if you don=t ha e a mortgage, car payments or re ol ing debt of any kind, it is unlikely

that your F1+; score #ill be @ &!

E6uifax cites late payments, or lack thereof, length of credit history and the si2e of account

balances in relation to your credit limits as maCor factors that impact your F1+; score! E en

if you pay off the full amount o#ed on your credit cards each month, the si2e of the bill has

an impact on your score, as large balances are fro#ned upon!

Check Your Credit

1f you are contemplating a significant purchase, such as a second home or a substantial

piece of property, running a credit check on yourself is a good idea! 1f you run the check at

least (& days prior to your purchase, you should ha e plenty of time to address any

discrepancies that appear on the report!

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>hile credit reports can be obtained from a ariety of sources, the three maCor credit

bureaus in the United States are E6uifax , Experian and "rans Union ! +redit reports can be

ordered online and obtained instantly! "he cost of obtaining a credit report is less than $ &

per person! eep in mind that each of these credit bureaus operates independently, so you

may need to re6uest a report from each of them to get a complete picture of your credit

history!

The Bottom ine

0espite the many ad ertisements that promise to repair bad credit, pre ention is the best

#ay to a oid credit problems! ;nce negati e information appears on your credit report,

there is little you can do to clear it up if the information is truthful and accurate! *o#e er,

o er time G generally about se en to %& years G this information is remo ed from yourcredit report! "o pre ent this type of damaging information from getting onto your credit

report in the first place, as #ell as to impro e your credit score and chances of obtaining

future financing, be sure to make all your payments on time and do not ignore issues that

arise #ith creditors!

"#$%T&#N" B' &N(%"T)'J e pand all K

01 %inancial Institutions

CIBI2 Consu&er Credit Infor&ation Reports

CIBI2 Co&pany Credit Infor&ation Reports

Portfolio Re ie- Reports

CIBI2 Trans3nion Score

CIBI2 Trans3nion Personal 2oan Score

CIBI2 Trans3nion Bureau Credit Characteristics

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CIBI2 $etect

CIBI2 Mortgage Check

Market Insights

CIBI2 Bureau Analy*er

CIBI2 2ocate Plus

Consulting ser ices

Custo& Scorecards

Market si*ing and Co&petition 4ench&arking reports

$ecisioning ser ices

51 Microfinance Institutions

CIBI2 Consu&er Credit Infor&ation Reports

CIBI2 Co&pany Credit Infor&ation Reports

Portfolio Re ie- Reports

CIBI2 Trans3nion Score

CIBI2 Trans3nion Personal 2oan Score

Market Insights

CIBI2 Bureau Analy*er

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61 Insurance

CIBI2 Consu&er Credit Infor&ation Reports

CIBI2 Co&pany Credit Infor&ation Reports

CIBI2 2ocate Plus

Portfolio Re ie- Reports

Consulting ser ices

Custo& Scorecards

$ecisioning ser ices

71 Teleco&&unications

CIBI2 Consu&er Credit Infor&ation Reports

CIBI2 Co&pany Credit Infor&ation Reports

Portfolio Re ie- Reports

CIBI2 Trans3nion Score

CIBI2 Trans3nion Bureau Credit Characteristics

Market Insights

CIBI2 Bureau Analy*er

CIBI2 2ocate Plus

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Consulting ser ices

Custo& Scorecards

Market si*ing and Co&petition 4ench&arking reports

$ecisioning ser ices

equifax.co.in

Credit Reports

Assess consumer risk "y le#era!in! the impro#ed, hi!hly usa"le andreada"le set of consumer credit reports. 3mpro#e confidence in findin!the ri!ht consumer le#era!in! @quifa *s ad#anced search and matchal!orithms. 3ncrease hit rates of your inquiries "y accessin! ourconsumer credit data"ase that has wider co#era!e across all re!ions of3ndia.

@quifa consumer credit data"ase is a leadin! information ser#icessource for the credit !rantin! community allowin! you to make faster,

more informed credit !rantin! decisions, while ena"lin! you to mana!eyour risk and ma imi<e !rowth opportunities?

• educe credit risk with access to the consumer*s trade, inquiry,

and pu"lic record information.

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• educe application fraud and impro#e collecti#e efforts with accessto the consumer*s identification and employment information.

1e#era!e the fresh and impro#ed formats with new #alue added sectionsthat ena"le thorou!h understandin! of the consumer profile for swiftdecision makin!. +ur consumer credit reports are "uilt from our @quifaconsumer credit data"ase 22 a national online data"ase that ma imi<esthe return of your requested consumer information.

• Contains consumer credit files from across all re!ions of 3ndia.• Contains the most current consumer data a#aila"le in 3ndia.• 3s operated usin! ad#anced search techniques and matchin! lo!ic.• 3s mana!ed in our world class technolo!y and operations center in

0um"ai.

Analytics

@quifa "rin!s e tensi#e !lo"al e pertise in application of analyticalsolutions for a wide #ariety of "usiness situations. our Analytics Centerof @ cellence has deli#ered o#er &&& proDects worldwide. We willle#era!e this cuttin! ed!e e pertise and o#er %&& years of e perience todeli#er custom analytical solutions , industry dia!nostics and cuttin!ed!e products that are rele#ant to the 3ndian "usiness conte t.

@quifa offers e pertise to support more profita"le and ro"ust decisionsand processes across the marketin! and credit lifecycle?Marketing Ca&paign Manage&ent 8 Custom response modelsena"lin! more tar!eted marketin! campai!ns leadin! to loweracquisition costsCredit Risk and %raud Manage&ent Products and Solutions 8 1ateststatistical techniques and proprietary frameworks le#era!in! "oth "ureauand "ank specific data leadin! to more effecti#e risk and fraudse!mentation strate!ies.

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Product and Pricing $esign8 Superior understandin! of the marketleadin! to ri!ht product to ri!ht consumer at ri!ht time. Systematic yieldoptimi<ation throu!h comprehensi#e #aluation, competiti#e andconsumer price sensiti#ity frameworks.

Collection Products and Solutions 8 Collecta"ility scorecards andse!mentation frameworks ena"lin! prioriti<ation of collector resourcesand collection strate!ies that ali!n with customer willin!ness and a"ility.Portfolio Manage&ent 8 Comprehensi#e #aluation and consumer"eha#iour scorecards leadin! to tar!eted retention and loyalty offerin!s./o ernance and Monitoring %ra&e-orks8 Comprehensi#e monitorin!toolkit to e#aluate o#erall and se!ment le#el profita"ility on an on!oin!"asisProcess Redesign 8 4ro#en solutions that find an effecti#e "alance

"etween ori!ination efficiency, customer e perience and crediteffecti#eness.Industry diagnostics 8 1e#era!e "ureau and market data to pro#ideinsi!hts into customer and macroeconomic trends at a product, lenderand !eo!raphic le#el.

3n summary, @quifa *s stron! e pertise and e perience can help addressspecific "usiness and impro#e 4L1 performance throu!h lower costsand losses, hi!her yields and !reater consumer loyality

Registration Infor&ation Do I have to be an Equifax customer to use ePORT

'es, prior to accessin eP#)T you must be a !alid and re istered *+uifacustomer. !ontact equifax to become a customer.

"hat information do I need to have in order to register for

ePORTYou must have the following pieces of information in order to register for e !RT"

Company Name

*+uifa -ember Number Customer Number

0ddress 1 must match C&" physical address

"ecurity di its 1 re+uired to re ister for eP#)T ser!ices

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I have registered for ePORT ho#ever$ I have not receivedthe registration email% "hat should I do

There are a couple of scenarios where you may not receive a registration email. These include"&ncorrect email address

-ismatched customer information

*mail transmission problems 1 spam filter, etc..

#f you do not receive your registration email please contact customer service at 1$%&&$'&($)'*+and as, to spea, with someone in customer service and sales support a-out your e !RTregistration re uest.

"hat are the &ser ID and Pass#ordThe /ser #0 and password are pieces of information re uired to enter e !RT. They are typicallyselected -y the customer during the registration process or they can -e assigned -y the Company

dministrator.The /ser #0 is a series of characters that e !RT uses to distinguish one user from another. The password is a series of characters that ena-le the user to access e !RT. These preventunauthorized users from accessing the e !RT system. This information should -e memorizedand not written down or shared with anyone. asswords must -e at least % characters andma2imum of '& characters in length with no more than ' repeating characters and minimally -e acom-ination of ' of the ) following character sets" alpha3 numeric3 or special characters.

asswords are case sensitive.

"hat is the purpose of the !hallenge 'uestion and (ns#erThe challenge uestion and answer3 which are case insensitive3 are pieces of information that you

select and define. They should -e something ,nown only to you and must -e something that youcan remem-er. You will need to ,now this information when re uired during the e !RT login

process3 and when you initiate a password reset.

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Credit Infor&ation Bureau 'India( 2i&ited 'CIBI2(

1 What is CIBI ? What are its ai!s?

CIBI is the repository of infor!ation which is poo"e# in fro! a"" Banks an# "en#in$

Institutions operatin$ in In#ia% CIBI ha&e a #ata'ase si(e of o&er 1) crore consu!errecor#s an# o&er *+ "acs co!pany recor#s contri'ute# 'y our o&er +,, Me!'ers%The Cre#it Infor!ation Co!panies -Re$u"ation. Act/ 0,,+/ an# &arious Ru"es an#Re$u"ations issue# 'y Reser&e Bank of In#ia has e!powere# CIBI or -Cre#it Infor!ationBureau -In#ia. t# to co""ect the #ata fro! &arious types of cre#it $rantors -i%e% "en#ers.%an# then share the sa!e within the $roup% The "e$is"ation has ena'"e# 'anks to su'!it#ata to CIBI without o'tainin$ 'orrower consent This has ena'"e# CIBI to tracksrepay!ent history of 'ank custo!ers "oans/ cre#it car#s an# further 'ankin$ finances%

CIBI s ai! is to fu"fi"" the nee# of cre#it $rantin$ institutions for co!prehensi&e cre#itinfor!ation 'y co""ectin$/ co""atin$ an# #isse!inatin$ cre#it infor!ation pertainin$ to 'othco!!ercia" an# consu!er 'orrowers/ to a c"ose# user $roup of Me!'ers% Banks/ 2inancia"Institutions/ 3on Bankin$ 2inancia" Co!panies/ Housin$ 2inance Co!panies an# Cre#itCar# Co!panies use CIBI s ser&ices% Data sharin$ is 'ase# on the 4rincip"e ofReciprocity/ which !eans that on"y Me!'ers who ha&e su'!itte# a"" their cre#it #ata/ !ayaccess Cre#it Infor!ation Reports fro! CIBI % The re"ationship 'etween CIBI an# itsMe!'ers is that of c"ose inter#epen#ence%

0% Who owns CIBI ?

CIBI 5s e6uity was he"# 'y State Bank of In#ia/ Housin$ De&e"op!ent 2inanceCorporation i!ite#/ Dun 7 Bra#street Infor!ation Ser&ices In#ia 4ri&ate i!ite#an# Trans 8nion Internationa" Inc% The shareho"#in$ pattern was in the proportion of9,:9,:1,:1, respecti&e"y%The shareho"#in$ pattern has now 'een #i&ersifie# to inc"u#e the nu!'er of other 'anksan# financia" institutions representin$ &arie# cate$ories of cre#it $rantors

;% How Does CIBI operates? 2or cre#it $rantors to $ain a co!p"ete picture of the pay!ent history of a cre#it app"icant/they !ust 'e a'"e to $ain access to the app"icant5s co!p"etecre#it recor# that !ay 'e

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sprea# o&er #ifferent institutions% CIBI co""ects co!pany an# consu!er cre#it<re"ate##ata an# co""ates such #ata to create an# #istri'ute cre#it reports to Me!'ers% Thus/ we can say that CIBI co""ects co!!ercia" an# consu!er cre#it<re"ate# #ata an#co""ates such #ata to create an# #istri'ute cre#it reports to Me!'ers% -A Cre#itInfor!ation Report -CIR. is a factua" recor# of a 'orrower5s cre#it pay!ent historyco!pi"e# fro! infor!ation recei&e# fro! #ifferent cre#it $rantors% Its purpose is to he"pcre#it $rantors !ake infor!e# "en#in$ #ecisions < 6uick"y an# o'=ecti&e"y.%

9 >n which se$!ents #oes CIBI pro&i#e cre#it reports?

CIBI is a co!posite Cre#it Bureau/ which caters to 'oth co!pany an# consu!erse$!ents% The Consu!er Cre#it Bureau co&ers cre#it a&ai"e# 'y in#i&i#ua"s whi"e theCo!pany Cre#it Bureau co&ers cre#it a&ai"e# 'y non<in#i&i#ua"s such as partnershipfir!s/ proprietary concerns/ pri&ate an# pu'"ic "i!ite# co!panies/ etc%

+% What is a Cre#it Infor!ation Report?

A Cre#it Infor!ation Report -CIR. is a factua" recor# of a 'orrower5s cre#it pay!enthistory co!pi"e# fro! infor!ation recei&e# fro! #ifferent cre#it $rantors% Its purpose is tohe"p cre#it $rantors !ake infor!e# "en#in$ #ecisions < 6uick"y an# o'=ecti&e"y%

*% What Shou"# >ne Do/ if >ne 2in#s Mistake in the CIBI Report :

Typica""y/ one checks cre#it report when one5s "oan $ets re=ecte# an# the "oan pro&i#er te""sthat it is 'ecause of so!e infor!ation on cre#it report% Mistakes on a cre#it report can 'eeasi"y correcte# with the CIBI s he"p% A"" you nee# to #o is:

a. 4urchase your CIBI cre#it report'. I#entify the erroneous infor!ationc. 4ro&i#e na!e/ a##ress/ #ate of 'irth/ an Contro" 3u!'er an# the nature of the error onthe cre#it 'ureau s we'site%

The Contro" 3u!'er is a uni6ue <#i$it nu!'er foun# on the top ri$ht han# si#e of yourCIBI Cre#it Infor!ation Report an# is $enerate# e&ery ti!e a cre#it report is $enerate#%It is &ery i!portant to pro&i#e this nu!'er to the 'ureau/ as it he"ps i#entify theCIBI cre#it report on which you wou"# "ike to @#ispute infor!ation%

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If you wish to know !ore #etai"s a'out the Dispute Re#eressa" Syste! of CIBI consu!erco!p"aints withCIBI % you rea# the #etai"s 'y c"ickin$ on the fo""owin$"ink : http: www%ci'i"%co! fa6 #ispute<consu!er an# http: www%ci'i"%co! consu!er<#ispute<reso"ution %2or #etai"s re"atin$ to co!p"aints 'y co!pany &isit http: www%ci'i"%co! fa6 #ispute<co!pany

)% How Can I purchase !y own Report :

There is a proce#ure for purchase of one5s own CIBI report so that 'efore you app"y for"oan/ you are aware of the sa!e % You can &isit the fo""owin$ "ink to 'uy the report fro!

CIBI : http: www%ci'i"%co! cre#it<score A3D https: www%ci'i"%co! on"ine !ana$eCusto!erDetai"s%#o?action showA##4ay!ent4a$e

Since Apri" 0,11/ Cre#it Infor!ation Bureau -In#ia. t# -CIBI ./ In#ia5s first cre#itinfor!ation co!pany/ has a""owe# consu!ers to purchase their

CIBI Trans8nion Score #irect"y fro! CIBI % of cre#it institutions/ is now a&ai"a'"e toconsu!ers for Rs 9+,/ CIBI Mana$in$ Director Arun Thukra" to"# reportershere% Trans8nion Score he"ps the consu!ers to assess their cre#it history 'etter an#ena'"e the! to 5see the!se"&es as "en#ers #o%

nowin$ their CIBI Trans8nion Score wi"" ena'"e consu!ers to 'etter !ana$e theircre#it history/ a&ai" spee#ier access to cre#it an# #eri&e 'enefits associate# with $oo#cre#it history% The score is pro&i#e# a"on$ with the CIBI Cre#it Infor!ationReport -CIR.% The Trans8nion Score is a three<#i$it nu!eric su!!ary -ran$in$ fro! ;,,to ,,. of a consu!er5s cre#it history/ co!pi"e# fro! infor!ation recei&e# fro! cre#itinstitutions who are !e!'ers of CIBI %

An in#i&i#ua"5s score pro&i#es a cre#it institution with an in#ication of the pro'a'i"ity of#efau"t 'ase# on his her cre#it history% It he"ps in esti!atin$ the "ike"ihoo# of repay!entof "oan 'ase# on the in#i&i#ua"5s past pattern of cre#it usa$e an# "oan repay!ent'eha&iour% The c"oser the score is to ,,/ the !ore confi#ence the cre#it institution wi""ha&e in the in#i&i#ua"5s a'i"ity to repay the "oan an# hence/ the 'etter the chances of his herapp"ication $ettin$ appro&e#%

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Consu!ers can pay for a&ai"in$ their Trans8nion Score 'y fo""owin$ an on"ine pay!entproce#ure or throu$h a #e!an# #raft% The hi$her the score/ the !ore fa&oura'"y it is&iewe# 'y cre#it institutions% Howe&er/ e&ery institution has its own 'ench!ark of whatconstitutes a $oo# cre#it score% CIBI #oes not reco!!en# any cut<off score "oanapp"ication e"i$i'i"ity%

The country5s first $eneric score has 'eco!e the !ost re"ia'"e in#icator for pru#ent#ecision<!akin$ for cre#it $rantors% 2inancia" #iscip"ine/ coup"e# with pru#ent cre#it!ana$e!ent an# a $oo# pay!ent history/ wi"" ensure that in#i&i#ua"s en=oy a"" the 'enefitsassociate# with ha&in$ a $oo# cre#it score/ Thukra" sai#%CIBI 'enefits 'oth cre#it $rantors an# consu!ers 'y co""ectin$/ ana"ysin$ an# #e"i&erin$infor!ation on cre#it histories of !i""ions of 'orrowers% It pro&i#es its !e!'ers withinfor!ation on 'oth consu!er an# co!!ercia" 'orrowers/ thus ena'"in$ the! !ake soun#cre#it #ecisions across 'oth in#i&i#ua"s an# 'usinesses%

S>ME M>RE 2REF8E3T Y AS ED F8ESTI>3S -2AFs.

Is CIBI a "ist of #efau"ters?

3o% CIBI on"y !aintains account infor!ation of &arious "oan custo!ersan# cre#it car# custo!ers irrespecti&e of the fact whether they are#efau"ters or not% The infor!ation co!prises their na!e/ a##ress/ !onth"y

repay!ent track recor#/ outstan#in$ a!ounts/ etc%

Does Banks report the na!es of a"" custo!ers5 to CIBI ?>n"y the na!es of the 'orrowers i%e% those custo!ers who ha&e a&ai"e# of a "oan ora cre#it car# fro! a CIBI !e!'er/ are reporte# to CIBI % Detai"s of "ia'i"ity accountssuch as sa&in$s/ fiGe# #eposits an# recurrin$ #eposits are not sent to CIBI %

>n what se$!ents #oes CIBI pro&i#e a cre#it report?CIBI is a repository of cre#it infor!ation an# in the consu!er se$!ent it pro&i#esinfor!ation on the &arious "oans a&ai"e# of an# car#s he"# 'y an in#i&i#ua" fro! a!e!'er 'ank% Its co!!ercia" report co&ers the cre#it a&ai"e# of 'y non<in#i&i#ua"s%

What is the content of a CIBI report?CIBI on"y reports "oan an# cre#it<car# infor!ation such as repay!ent track/ "oan type/a!ount outstan#in$/ "oan a!ount #is'urse#/ &arious #ates/ etc% The report a"so contains a

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custo!er5s persona" infor!ation "ike na!e/ a##ress/ #ate of 'irth/ phone nu!'er-s./passport nu!'er/ &oter5s ID nu!'er/ 4A3/ etc% In a co!!ercia" cre#it report the inputsare si!i"ar 'ut inc"u#e so!e a##itiona" #etai"s pertainin$ to the co!!ercia" entity "ike"e$a" constitution/ re$istration nu!'er/ etc% The cre#it report #oes not pro&i#e anyopinion or co!!ent on whether a "oan shou"# 'e eGten#e# to a custo!er% It reports the

facts that its !e!'er 'anks an# financia" institutions ha&e reporte#%

Can a custo!er5s na!e 'e re!o&e# fro! CIBI 5s #ata'ase?Me!'er 'anks contri'ute to CIBI on a !onth"y 'asis #ata of a"" their custo!ers who!aintain a "oan cre#it<car# account with the!% Hence a custo!er5s na!e cannot 'ere!o&e# fro! CIBI 5s #ata'ase%

If a "oan is #enie# to a custo!er 'y one 'ank on the $roun#s of the CIBI report/ wi"" it 'e

#enie# 'y other 'anks too?Appro&a" or re=ection of a cre#it app"ication #epen#s on the 'ank5s po"icies% Re=ection 'yone 'ank on the $roun#s of the CIBI report !i$ht not i!p"y re=ection 'y another 'ank%

If a custo!er5s fa!i"y !e!'er has #efau"te#/ wi"" it affect the custo!er5s status inCIBI 5s recor#s?

The CIBI report has infor!ation of "oan cre#it #etai"s of the 'orrower on"y% Therefore/for a retai" custo!er/ it wou"# not !atter if so!eone in his her fa!i"y has #efau"te#% If thecusto!er5s repay!ent track recor# is okay/ his her cre#it score wi"" not 'e affecte# 'ythat of his her fa!i"y !e!'ers%

What is Cre#it Score :

• The cre#it history 7 repay!ent 'eha&iour of a custo!er is trans"ate# intoa nu!'er #e&e"ope# 'y CIBI / ca""e# 5cre#it score5%

•

• It is an in#icator of the cre#it<worthiness of a custo!er% It pre#icts the "ike"ihoo# ofa consu!er #efau"tin$ on a pay!ent% A 'orrower who is !ore financia""y #iscip"ine# wi""ha&e a hi$her cre#it score% Hi$her cre#it scores are 'etter%

How Does a Score Is Re"ate# to oan Appraisa" :

• A stron$ cre#it history 7 a hi$her score wi"" $et you 'etter cre#it ter!s < 'etter "oana!ounts 7 attracti&e rates of interest%

•

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• If you ha&e #efau"te# on any pay!ent/ then your cre#it history wi"" 'e i!pacte# an#it !ay "i!it your a'i"ity to $et a new cre#it pro#uct/ or sustain the current pro#uct

•

What if a Bank has re=ecte# !y "oan app"ication on account of unfa&oura'"e CIBI report score:

• If the 'ank is re=ectin$ a "oan on the $roun#s of the CIBI report 'ein$

unfa&oura'"e/ then you can ask your 'ank for a copy of your CIBI report or purchase thesa!e fro! CIBI %

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