Credit Information Bureau India Ltd (CIBIL) is facilitating the banks to monitor and control credit risks, according to its chief.
Delivering a lecture on ‘Credit trends: Evolution and impact of CIBIL’ at the head office of Corporation Bank here, M.V. Nair, Chairman of CIBIL, said that credit information is imperative to help analyse the credit trend in Indian banking sector, and CIBIL is helping banks to control credit risks.
A press release by the bank said here that Nair lauded the initiative of Corporation Bank in upstaging innovation in its products and services such as CASA, SME and gold loan variants. He opined that the ever-changing banking environment necessitates rapid organisational transformation and constant revisit of IT initiatives.
Welcoming the gathering, Ajai Kumar, Chairman and Managing Director of Corporation Bank, said that Nair led the banking industry in various capacities. K. Rama Murthy, General Manager of the bank, introduced Nair to the function. He said that Nair’s career was started in Corporation Bank. B.K. Srivastav, Executive Director of the bank, proposed a vote of thanks.
The release said that M.V. Nair also inaugurated the ‘Knowledge Centre’ of the bank at the head office in Mangalore on the occasion.