average credit score by race

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In India, the concept of credit scores is gaining traction, especially with the rise of digital lending platforms. Local products like the CIBIL score, managed by TransUnion CIBIL, are widely used to assess creditworthiness. This score ranges from 300 to 900, with higher scores indicating better credit health. It helps lenders evaluate risks based on an individual\“s credit history, including loan repayments and credit card usage.

Factors influencing credit scores in India include timely payment of EMIs, credit utilization ratio, and the length of credit history. Many Indians rely on traditional banking systems and microfinance institutions, which may not always report to credit bureaus, leading to variations in scores across different demographics. Understanding these local products is crucial for financial inclusion and economic growth.