Securing a position in a bank or NBFC goes beyond just hard work; now, a favourable CIBIL or credit score is imperative. Notably, the banking sector’s recruitment agency, IBPS, has introduced a novel criterion in the RRB, IBPS Clerk, and PO recruitment notice, stipulating that applicants must possess a commendable credit score as part of the qualification.
Candidates are required to have a credit score exceeding 650 upon joining, and it’s emphasised that every IBPS and bank recruitment examinee should be aware of their CIBIL score. The process to check the score should be readily available. IBPS Chairman MV Rao assures that a low credit score alone will not lead to disqualification, as reported by Money Control.
The Credit Information Bureau (India) Limited issues the CIBIL or credit score in the country. Spanning from 300 to 900, it is a three-digit score indicating an individual’s capacity to repay a loan. Your credit score reflects how well you manage loan repayments within your budget. Your credit history and records determine it.
Candidates are expressing apprehension about the new clause, especially considering that clerical jobs target young graduates aged 20–28. Some are questioning the rationale behind demanding a mandatory credit score for fresh graduates without any job experience. While those without a bank account are exempt from providing their CIBIL status, the prevalence of graduates without a bank account raises concerns among students, according to a coaching centre director.
The notification specifies that candidates without an updated CIBIL status by the date of joining must either update it or provide a no-objection certificate from the lender. This requirement aims to confirm the absence of any adverse reflections concerning outstanding accounts with CIBIL. Failing to meet this criterion may lead to withdrawal or cancellation of the letter of offer, as outlined in the eligibility criteria.
Comments
0 comment