borrowers have suffered financial stress due to the coronavirus pandemic. There were salary cuts, layoffs, and businesses were shut.
Some have failed to repay loans and credit card dues regularly after the end of the moratorium. Consequently, their credit scores took a hit.According to a 2020 report from BankBazaar, the number of people checking their credit report has risen.
Besides being a marketplace for financial products, Bankbazaar also offers free credit reports to its users.Also Read | How plant meat is coming of age in IndiaAccording to TransUnion CIBIL Limited, 42% of borrowers have a credit score between 300 and 747.