Top News

If you use the BHIM app daily for UPI payments, here is some highly useful news for you. Users can now check their CIBIL Score directly within the BHIM app itself. There is no longer any need to log in to a separate website or a different app to do this. Through this recently launched feature, users can view their credit score as well as their complete credit report. This facility has been introduced through a partnership between the National Payments Corporation of India (NPCI) and TransUnion CIBIL.

Previously, checking one's CIBIL score required visiting a separate platform, logging in, and often re-verifying personal details. However, this facility has now been seamlessly integrated directly into the BHIM app. The objective is to link individuals' daily digital financial activities with credit awareness, enabling them to easily track their scores periodically.

Why is the CIBIL Score Important?
People often check their CIBIL score only when they intend to apply for a loan or a credit card. However, this score plays a pivotal role in your financial life. Various factors—such as bank loan approval, interest rates, and credit card limits—are contingent upon this score. If you have a good score, your chances of securing a loan increase, and you may also be eligible for lower interest rates.

How to Check Your CIBIL Score on the BHIM App
First, ensure that you update your BHIM app. This feature is available in BHIM Version 4.0.19 and all subsequent versions. Once updated, open the app and navigate to the 'Credit Score' or 'CIBIL' section located on the home screen or within the main menu. Upon tapping there, the app will request your permission. Once you grant your consent, your CIBIL score and credit report will be displayed on the screen.

Is This Feature Secure?
This facility operates entirely on a consent-based system, meaning that no credit data will be accessed without your explicit permission. The user retains full control over when and what specific information is shared. Nowadays, most financial applications operate in this manner to ensure the security and protection of user data. 

You Can Also Spot Errors in Your Credit Report
With the help of this feature, users will be able to easily identify errors present in their credit reports. Often, a closed loan continues to appear as active, or payment updates are not reflected. Even such minor errors can impact one's CIBIL score. If these errors are detected promptly, getting them rectified becomes much easier.

Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.