aadhaar card

Unique identification project was initially conceived by the Planning Commission as an initiative that would provide identification for each resident across the country and would be used primarily as the basis for efficient delivery of welfare services. It would also act as a tool for effective monitoring of various programs and schemes of the Government. a) The concept of a unique identification was first discussed and worked upon since 2006 when administrative approval for the project –"Unique ID for Below Poverty Line (BPL) families" was given on 03 March 2006 by the Department of Information Technology, Ministry of Communications and Information Technology. This project was to be implemented by the National Informatics Centre (NIC) over a period of 12 months. Subsequently, a Processes Committee to suggest processes for updation, modification, addition and deletion of data fields from the core database to be created under the Unique ID for below BPL project was set up on 03 July 2006. This was set up under the chairmanship of Dr. Arvind Virmani, Principal Adviser, Planning Commission. b) A "Strategic Vision on the UIDAI Project" was prepared and submitted to this Committee by M/S Wipro Ltd (Consultant for the design phase and program management phase of the Pilot UIDAI project). It envisaged the close linkage that the UIDAI would have to the electoral database. The Committee also appreciated the need of a UIDAI Authority to be created by an executive order under the aegis of the Planning Commission to ensure a pan-departmental and neutral identity for the authority and at the same time enable a focused approach to attaining the goals set for the XI Plan. The Seventh Meeting of the Process Committee on 30 August 2007 decided to furnish to the Planning commission a detailed proposal based on the resource model for seeking its "in principle" approval. c) At the same time, the Registrar General of India was engaged in the creation of the National Population Register and issuance of Multi-purpose National Identity Cards to citizens of India. d) Therefore, it was decided, with the approval of the Prime Minister, to constitute an empowered group of Ministers (EGoM) to collate the two schemes – the National Population Register under the Citizenship Act, 1955 and the Unique Identification Number project of the Department of Information Technology. The EGoM was also empowered to look into the methodology and specific milestones for early and effective completion of the Project and take a final view on these. The EGoM was constituted on 04 December 2006. • The first meeting of the EGoM was held on 27 November 2007. It recognised the need for creating an identity related resident database, regardless of whether the database is created based on a de-novo collection of individual data or is based on already existing data such as the voter list, there is a crucial and imperative need to identify and establish an institutional mechanism that will "own" the database and will be responsible for its maintenance and updating on an ongoing basis post its creation. • The second meeting of the EGoM was held on 28 January 2008. It decided on the strategy for the collation of NPR and UIDAI. Inter-alia, the proposal to establish UIDAI Authority under the Planning Commission was approved. • The third meeting of the EGoM was held on 07 August 2008. The Planning Commission had placed before the EGoM a detailed proposal for setting up UIDAI. The meeting decided that certain issues raised by the members with relation to the UIDAI (Annexure to the EGoM meeting proceedings) would need to be examined by an official level committee. It referred the matter to a Committee of Secretaries to examine and give its recommendations to the EGoM to facilitate a final decision. • Subsequent to the Committee of Secretaries recommendations, the fourth meeting of the EGoM was held on 04 November 2008. The recommendations of the Committee of Secretaries were presented to the EGoM and the following decisions were taken. a) Initially the UIDAI may be notified as an executive authority and investing it with statutory authority could be taken up for consideration later at an appropriate time. b) UIDAI may limit its activities to creation of the initial database from the electoral roll/EPIC data. UIDAI may however additionally issue instructions to agencies that undertake creation of databases to ensure standardization of data elements. c) UIDAI will take its own decision as to how to build the database. d) UIDAI would be anchored in the Planning Commission for five years after which a view would be taken as to where the UIDAI would be located within Government. e) Constitution of the UIDAI with a core team of 10 personnel at the central level and directed the Planning Commission to separately place a detailed proposal with the complete structure, rest of staff and organizational structure of UIDAI before the Cabinet Secretary for his consideration prior to seeking approval under normal procedure through the DoE/CCEA. f) Approval to the constitution of the State UIDAI Authorities simultaneously with the Central UIDAI with a core team of 3 personnel. g) December 2009 was given as the target date for UIDAI to be made available for usage by an initial set of authorized users. h) Prior to seeking approval for the complete organizational structure and full component of staff through DoE and CCEA as per existing procedure, the Cabinet Secretary should convene a meeting to finalize the detailed organizational structure, staff and other requirements. 1.1: Subsequently, on 22 January 2009 the Cabinet Secretary in pursuance of the decisions of the Empowered Group of Ministers considered the proposal submitted by the Department of Information Technology regarding the governance structure and recommended that a) The notification for constitution of the UIDAI should be issued immediately. b) A High Level Advisory, Monitoring and Review Committee headed by Deputy Chairman, Planning Commission to be constituted to oversee the work of the authority. c) A Member, Planning Commission or the Secretary, Planning Commission may also be assigned the task of looking after the work proposed for the Chief UIDAI Commissioner. d) Core Team to be put in place. 1.2: In pursuance of the Empowered group of Ministers' fourth meeting dated 04 November 2008, the Unique Identification Authority of India was constituted and notified by the Planning Commission on 28 January 2009 as an attached office under the aegis of Planning Commission with an initial core team of 115 officials. The role and responsibilities of the UIDAI was laid down in this notification. The UIDAI was given the responsibility to lay down plan and policies to implement UIDAI scheme and shall own and operate the UIDAI database and be responsible for its updation and maintenance on an ongoing basis.

Top

Prime Minister's Council

Prime Minister's Council on UIDAI Authority - Subsequently, on 02 July 2009, the Government appointed Shri. Nandan M. Nilekani as Chairman of the Unique Identification Authority of India, in the rank and status of a Cabinet Minister for an initial tenure of five years. Mr. Nilekani has joined the UIDAI as its Chairman on 23 July 2009. The Prime Minister's Council of UIDAI Authority of India was set up on 30 July 2009. The Council is to advise the UIDAI on Programme, methodology and implementation to ensure co-ordination between Ministries/Departments, stakeholders and partners. The Council would meet once every quarter. The First Meeting of the Prime Minister's Council of UIDAI Authority took place on 12 August 2009. The salient decisions in the PMs council were as follows : Need for legislative framework Broad Endorsement of the Strategy Budgetary Support to partners Setting Biometric and Demographic Standards UIDAI Structure Contours Approved Flexibility in Personnel and other issues Choose, Deploy and Repatriate Officers Government Accommodation Eligibility Broad-banding of posts Hiring of professionals from Market Setting up of Global Advisory Councils of PIOs Interns and Sabbatical Global Procurement

Top

Cabinet Committee

The Government of India issued orders constituting the Cabinet Committee on UIDAI Authority on 22 October 2009. It is headed by the Honourable Prime Minister and consists of the Minister of Finance, Minister of Agriculture, Minister of Consumer Affairs, Food and Public Distribution, Minister of Home Affairs, Minister of External Affairs, Minister of Law and Justice, Minister of Communications and Information Technology, Minister of Labour and Employment, Minister of Human Resource Development, Minister of Rural Development and Panchayati Raj, Minister of Housing and Urban Poverty Alleviation and Minister of Tourism. The Deputy Chairman Planning Commission and Chairman UIDAI are special invitees. The functions of the Committee, which is headed by the Honourable PM would be as under : All issues relating to the Unique identification Authority of India including its organisation, plans, policies, programmes, schemes, funding and methodology to be adopted for achieving the objectives of that Authority.

Mandates and Objectives

The Unique Identification Authority of India (UIDAI) has been created as an attached office under the Planning Commission. Its role is to develop and implement the necessary institutional, technical and legal infrastructure to issue unique identity numbers to Indian residents. On 25 June 2009, the Cabinet also created and approved the position of the Chairperson of the UIDAI, and appointed Mr. Nandan Nilekani as the first Chairperson in the rank and status of a Cabinet Minister. Mr. Ram Sewak Sharma has been appointed the Director General.

Mission and Timeline Top

The Mission The role that the Authority envisions is to issue a unique identification number (UIDAI) that can be verified and authenticated in an online, cost-effective manner, which is robust enough to eliminate duplicate and fake identities. The Timelines The first UIDAI numbers will be issued over the next 12-18 months counted from August 2009. The first number would be issued between August 2010 to February 2011. Over five years, the Authority plans to issue 600 million UIDs. The numbers will be issued through various 'registrar' agencies across the country.

Top

Organization Details

UIDAI was set up as an attached office of the Planning Commission through Notification dated 28.01.09 with a core team of 115 officers and staff. Under the Notification, 3 Posts (DG, DDG and ADG) were sanctioned for Headquarter with 35 UID commissioners in each of the States. It was thereafter decided to have Regional Offices in Bangalore, Chandigarh, Delhi, Hyderabad, Guwahati, Lucknow, Mumbai and Ranchi with their jurisdiction covering specific states across the country.A Technology Centre has been set up in Bangalore. 268 additional posts were created in September 2009. UIDAI at present has a total sanctioned strength of 383 officers and subordinate staff. Headquarter's Organisation: The UIDAI is headquartered in Delhi with Shri Nandan Nilekani as the Chairman and Shri R.S. Sharma as the Director General and Mission Director. In the organizational design, the DG is to be assisted by seven Deputy Director Generals, officers of the level of Joint Secretary, who are in charge of various Wings. One of the DDGs heads the Finance Wing. The DDGs would be supported by 21 ADGs, 15 Deputy Directors, 15 Section Officers and 15 Assistants. The HQ has a total sanctioned strength of 146 number of officers and staff including the Accounts and IT branch. All the officers and staff have been appointed on deputation either under Central Staffing Scheme or through bilateral route. Of the sanctioned strength, 85 are in position at present. Appointments for the remaining vacancies are in process.

Tighter rules for international students (10/02/2010)

Today the UK Home Secretary Alan Johnson announced that international students who wish to study in the UK will be required to meet stricter criteria in future.

The new requirements for international students follow a review of Tier 4 of the points based system (PBS). The review looked at whether the current arrangements meet the right balance between facilitating access by genuine students and preventing abuse by economic migrants.

The new requirements are targeted and proportionate and continue to support the UK government's commitment to ensuring that the UK remains an attractive destination to legitimate international students who want to benefit from the world class education that the UK has to offer. 

The next step will be to discuss the details of the implementation of the changes with the education sector.

he Home Secretary said:

"The points based system was introduced to provide a rigorous system to manage legitimate access to the UK to work and study, with the ability to respond to changing circumstances.

"We want foreign students to come here to study, not to work illegally, and today we have set out necessary steps which will maintain the robustness of the system we introduced last year. I make no apologies for that."

The new requirements for adult students will include the following, and be introduced in three stages:

• raising the level for English language students coming under Tier 4 from A2 (beginner) to B2 (intermediate). The only exceptions to this will be for overseas government-sponsored English language students and students on pre-sessional English language courses as preparation for full degree courses;
• students studying below degree or foundation degree level will be restricted to working for 10 hours per week during term-time (a reduction from 20 hours), with full time employment permitted during the holidays;
• students studying on courses of six months or less will not be entitled to bring their dependants to the UK unless they qualify in their own right under one of the other PBS tiers and  
• dependants of students studying courses below degree or foundation degree level will not be permitted to take employment in the UK unless they qualify in their own right under one of the other PBS tiers.

These requirements require changes to the Immigration Rules and are expected to come into effect on 3 March 2010.

In addition:

• the government will establish a "highly trusted sponsor programme". The details of the programme will be developed with the education sector over the next couple of months. This is expected to come into effect on 6 April 2010, from which date:
• only Highly Trusted Sponsors will be able deliver NQF level 3 courses and
• only Highly Trusted Sponsors can deliver work placement courses below degree level.
• the government will also develop with partners a mandatory English language test for students coming to study below degree level which will demonstrate English language proficiency to the required standard (B1) and be officially approved by the UK Border Agency. The aim is to implement this by early Summer 2010.

Minister for Business, Innovation and Skills, Pat McFadden, said:

"Genuine international students are welcome in the UK. They make a significant contribution to the academic and cultural life of the universities and colleges where they study and bring over £5.3 billion to our economy each year. But where there is abuse it undermines the position of genuine students as much as anyone else.

"It is important that we protect the reputation and quality of our institutions by ensuring only legitimate students are able to benefit from the courses they offer. This is why we will work closely with the education sector to implement the recommendations of the review."

In addition, today the UK Border Agency published proposed new fees for immigration and nationality services which are set at or below the cost of processing. The Tier 4 visa fee will rise from £145 to £199 with effect from 6 April 2010. Although international students are being asked to pay more, they continue to pay less than it costs to process a Tier 4 visa and this is in recognition of the importance of international students to the UK.

Notes for Editors

• The Implementation Plan for Tier 4 of the PBS can be found at UKBA website.
• The Prime Minister announced the review of Tier 4 on 12 November 2009. The review was conducted by the Department for Business, Innovation and Skills and the UK Border Agency. It looked at the case for and against policy changes and specifically the potential impact of raising the minimum level of study an adult may undertake in the UK, introducing English language test for those coming to the UK to study below degree level, restricting access to vocational courses (courses with work placements) and the work entitlements of students.
• Students wishing to learn English and who are at beginner level, will still be able to come to the UK to study for a maximum of six months under the student visitor route (not Tier 4). Student visitors will be able to study English language at levels below B1 with an education provider that is accredited by a UK Border Agency-approved accreditation body.
• Current guidance for Tier 4 student visa applications is available at UKBA website.
• The UK Border Agency publishes annual entry clearance statistics in August each year.
• Visa fees are reviewed every year. They are debated in Parliament and implemented at start of the new financial year when fee guidance will be issued to customers.

Suspension of Tier 4 student application

Suspension of Tier 4 student applications in North India, Nepal and Bangladesh

31 January 2010

The UK Border Agency has announced that, from 1 February 2010, it is not accepting any new applications under the Tier 4 student route of the points-based system at the following visa application centres:

• North India - New Delhi, Jalandhar and Chandigarh
• Bangladesh - Dhaka, Sylhet and Chittagong
• Nepal - Kathmandu

The head of the points-based system at the UK Border Agency, Jeremy Oppenheim, said:

'The points-based system gives us the flexibility to act to maintain the integrity of the visa system, while processing legitimate applications fairly, thoroughly and as quickly as possible.

'We continually check and monitor all student applications and education providers to ensure that they meet the required standards set by the points-based system. As a result of this routine monitoring and an increase in applications, we have temporarily stopped accepting new applications from North India, Nepal and Bangladesh while we carry out an investigation to ensure they are all genuine.

'We will take tough action against those who attempt to abuse the system.'

CIBIL-- JUST FOR KNOWLEDGE

Why You Need Credit Reports

A credit report provides lenders with an overall snapshot of your credit usage, and even potential employers are checking applicant's credit reports.

Checking your credit report can also help to prevent against fraud and identity theft, which are among the fastest growing crimes today. The best way to prevent fraud is by checking your free credit report for any suspicious activity on your bank accounts, credit cards and loans.

Why Credit Scores are Important

Everyone checks on credit scores these days, and with a higher credit score you can gain access to the best interest rates on school loans, cars, mortgages, credit card offers, insurance payments and so much more.

Credit scores are calculated based on data in your credit reports and can fluctuate depending on recent activity, so it's important that you are monitoring it on a daily basis.

Differences Between Credit Reports and Scores

A credit report is an analysis of when and where you applied for credit, the lenders borrowed from and who you still owe money to. Your credit reports also monitor how much debt you've paid off and whether or not you are current on your monthly payments.

A credit score is a number-grade assigned to you based on the information in your credit report. Companies, banks and lender

uk student visa ? what to do or not ! ! !

 from reddif




Studying in the UK might be a dream for many, but there are many pitfalls students (and their parents) should be aware of before they embark on their study abroad journey. This article is to help potential UK students who wish to consider UK as the country to study, live and work. In my experience, many students are not guided honestly in building their careers in the UK.

Often students run into agents who are commissioned by bogus, low-grade colleges in the UK for getting admissions and visa using 'short-cuts'. At most these students ask some of their friends already in the UK about the system. My advice to students is to use the British Council office in India to evaluate the institutions. Find out first if the college a private limited company and if it is, be careful that the college enjoys a good reputation and has been stable for years. The reason why I mention this is because the company and the owners are a separate legal entity. If the company that is your college is in trouble, you end up losing your money. You will be left helpless if you go to the UK to find the college is no more trading.

So before you buy your ticket to London [ Images ], take a look at some of the things you need to know:

• Is the college is a private limited company? Find out what if the company has a registration number. You can check if the company is trading or not by searching on www.companieshouse.gov.uk. Just enter the company name or registration number to check the status of the company. If you see that the company is dissolved, do not enrol. The quality of the education provider matters and will affect your career. So before applying to any college whose advertisement boasts about bright career prospects, make the effort of researching the institution before giving in to the excitement. Remember you want to come to the UK to build your career.
• If the college shows it has a MBA programme accredited by a UK university then find out directly from the university if the college is authorised to use their name. Some selfish business owners from Asia settled in the UK form companies and may use the name to show that they are associated with premier universities. They advertise heavily in Indian newspapers to attract maximum students. Every college is not like that, but I have seen several students suffer due to some unscrupulous elements.
• Try going directly through the college rather than the agent for visa or admissions as the criteria is academic merit and not the agent's name. No one can guarantee the visa for you. You do not need to have 80 per cent+ to get admission in the UK as applications depend on different criteria for different educational institutions. Some bogus colleges take anyone as long as they pay. To ensure that you are applying to a good institution make sure that the college or university has a sponsorship number or license. This is a new provision introduced by the Home office in the UK to clamp down on bogus colleges.
• Once you are convinced that you have found the right course, college or university apply honestly. These days you can do everything online. You can pay the registration fee directly online or by calling the institution. Make sure you get a receipt for your payment and it should clearly state the process in case of visa refusals. For instance, if the course costs GBP10,000 for an MBA, they may ask for GBP5,000 for registration to issue a non-conditional offer letter for admission. Before you pay make sure to ask how you will get a refund if your visa application is refused. There may be a reasonable admin charge.
• The admission letter then can be taken to Indian banks for educational loan application purposes. Banks have really come up in last few years to make the process of educational loans very easy. You can apply online. Try SBI [Get Quote ], OBC and others. Do not over borrow for laptops, mobile phones and other stuff that you may not need now. Why? This is because every pound you borrow increases loan repayments since the interest will be compounded. Thus, be reasonable and try to arrange as much as you can from other sources. Also, do not lose the desire to study in the UK just because you do not have solid financial backing. You may get scholarships or a loan if your family has a fixed asset that could be a collateral security against the loan. Do not rely only on what friends say about loan rates. Make a habit of finding out yourself by going to as many banks as possible. Many times students take short cuts and end up in a mess.
• During the visa process, fill the form honestly yourself. Be to the point. Do not lie if you have applied for a visa and have been refused one for any country. If they ask your household income be sure that you have facts to support your claims like bank statements, PAN card, income tax returns, pay slips, etc. The main foundation of the application is correct details and solid finances as the UK government will not allow you to enter the country if they perceive that you do not have the finances to study and live in the UK without depending on their public funds. If you are not sure about anything, visit www.homeoffice.gov.uk or ask the university where you seek admission.
• Once you have reviewed your application submit it and wait for the outcome. Once you get the visa prepare to come to the UK. No book or article can prepare you for the hardships of a student in the UK. It is a great experience to study in one of the best places in the world like London. You learn to grow 10 times quicker than what you experience in India as you don't have the comfort of your own home, with no pressure of paying rent or bills etc.
• Finding accommodations is challenging before you arrive in the UK. Thus my advice is research well in advance. Websites like www.gumtree.com , www.findaproperty.com are good places to start looking for a room. Most students share a house or flat. University-arranged accommodations will be much more expensive ranging from a minimum of GBP110 per week + bills depending on the area you will be living in. Do not pay the money to advertisers as there are fraudsters preying on innocent people. The best approach is to contact the person by email first. Ask for the full address and speak to them on the phone. Agree that you will give the deposit on arrival. Sometimes students pay in advance and may be disappointed as landlords specially are not too concerned about the welfare of students.
  
  Having said that, if you go through an estate agent it may become easier but will prove expensive. Again my suggestion is first visit the place, read the contract and then pay. Unfair contracts may be written so you can object if you do not agree with them. Contracts for tenancy vary from one month to one year depending on your need.
• Please make sure you look at the termination of contract rules too. Ask them if they will put the deposit in a special fund as many times students do not get refunds because landlords make excuses of unfair wear and tear in the property. It is normal to give a month's or one week's notice for leaving. Make sure you do not sign for your friends, like if you are three friends who want a three-bedroom house for say GBP900 per month inclusive of all bills. Please get a contract drafted where you are responsible for only your share of the rent that is GBP300.  If you sign as the responsible person for paying the full amount and your friends leave you will be liable to pay all GBP900.
  
  It is fair to get all names on the contract, clearly stating you are responsible for paying only for your room. Get proof of electricity, gas reading by taking a picture of meters on the day of arrival on your mobile phone. Thus when the bills come you will pay from the day you rented the property.
• If you live in places like East London which is just 20-25 minutes by London Underground to Central London where most good universities, are you may find a room for GBP65-90 per week including gas, electricity and internet. One more thing, full-time students are exempted from council tax so if anyone tries to charge you for that refuse to pay. To gain exemption on council tax you will need a letter from your employer.
• Make sure you spend time in making your resume neat, precise and improvised so that it fits the job you will be applying for. Do not cut, copy and paste your friend's resume to avoid disappointments. Make a good covering letter and state how you will add value to the employer. Merely saying 'I am confident, I can do anything' will not land you the job as there are millions of students and people looking for jobs in this recession. But do not lie. If you have not done it, don't make it up. Be honest and your sincerity will go a long way.
• National insurance: As a student you are allowed to work only 20 hrs per week and when the session is over you may be allowed to work full time as per home office rules. But please confirm this from www.homeoffice.gov.uk. You will need something called a NI number (National Insurance number) before you can start working. You can apply for this number on the phone once you arrive in the UK. You will get a date of appointment once you speak to an advisor on the phone. If you find work before this, let your employers know that you have applied for it as it may take a while till you get it. This number will look something like this: ST245763A, and will be on your pay slip. For more information on NI, visit www.directgov.uk.
• Finding a job is very hard and I make no assurances that it will be easy or you will get a job through a contact like in India. You should be prepared to do everything yourself. The sooner you realise this the better it will be for you. There are always jobs available for students here so apply properly. A typical example is instead of applying for 30 positions in a day where you just applied by sending your CV to 30 companies without a covering letter and understanding the job requirements send 10 good, well thought out applications. You will get positive results if you apply yourself qualitatively not quantatively. Be prepared to fill online job application forms. Jobs where most students can get jobs are in the retail sector. If you work in London you can expect to earn a minimum of GBP5.73 per hour to GBP12 per hour depending on the work you are doing. Good jobs sites are www.totaljobs.com,www.monster.co.uk.
• Health: Get registered at the nearest doctor in your area as soon as possible by visiting www.nhs.uk. You just type in your post code, eg SW16 6EY, and click search for GP, dentist and walk in clinic. It is advised that you do this as soon as possible, so that if you are unwell you know where to go. In case of an emergency, dial 999 and say ambulance if you are serious. Do not waste their time if you have a mild headache. The same number, 999, is for the police and fire brigade too. Also, 999 calls are free.
• For mobile phone deals use comparison sites like www.moneysupermarket.com. You may find good deals there. Try a SIM only deal without a long-term contract, for just GBP10 a month if you do not have a job.

For more insights on career development, business start-up advice, how to make a resume that stands out, how to become a professionally qualified accountant in the UK and more such features, watch this space.

why visa refused ?

Student VISA and visitor VISA are the categories scrutinized by the visa officers of most countries than any other visas. Due to 1000s of applications in country like US, UK, Australia, Canada, etc the visa officers may not be able to spend more time reviewing each case to make sure whether it is genuine or not. It is your responsibility to present your case for your successful VISA issuance.

We can provide some important information to minimize your VISA rejection chances. VISA refusal is not based on your document or your academic performance.


By showing lot of funds and having admission in a top ranking university will not guarantee your VISA.

THE visa officer will be able to determine your true objective by asking very few questions or by seeing your documents. Sometimes their judgment could be wrong, so you have a second chance to present your case.


 Unless you have solid explanation to support your VISA application it is highly unlikely to get the VISA approval in the second time. It is very important to analyze your previous VISA refusal before you apply again.

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 We do not compromise on time and quality and this is what makes us unique and fresh unlike UK visa consultants in Ahmedabad today. 

This way we are more versatile in their approach to a problem and can easily work their way out of difficult situations relating to your rejection applications.

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CIBIL panic or peace for life ?

CIBIL (India's first credit information bureau) is a repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its members in the form of credit information reports. As on February 2009, CIBIL has an information base on over 132 million consumer trades, and 2 million commercial trades which continues to grow at a fast pace. CIBIL shares credit information with its 169 strong member base on the principle of reciprocity. CIBIL’s members include all leading banks, financial institutions, non-banking financial companies, housing finance companies, state financial corporations and credit card companies. CIBIL creates value for financial institutions by providing objective information that helps them manage risk and devise appropriate lending strategies, thus reducing cost and maximizing portfolio profitability. CIBIL benefits both credit grantors and consumers by collecting, analyzing, and delivering information on credit histories of millions of consumers and businesses. With information from CIBIL, credit grantors are empowered to make sound and informed credit decision. Origin of CIBIL The need of credit information system was increasingly felt in order to enable informed credit decisions and aid fact based risk management. It was also imperative to arrest accretion of fresh NPAs in the banking system through an efficient system of credit information on borrowers as a first step in credit risk management. In this context, the requirement of an adequate, comprehensive and reliable information system on the borrowers through an efficient database system was keenly felt by the Reserve Bank of India/ Government as well as credit institutions. A Working Group (Chairman: Shri N.H. Siddiqui) with representatives from select public sector banks, IDBI, ICICI, Indian Banks’ Association and Reserve Bank was constituted by the Reserve Bank in the year 1999, to explore the possibilities of setting up a Credit Information Bureau (CIB). The Working Group had recommended setting up a CIB under the Companies Act, 1956 with equity participation from commercial banks, FIs and NBFCs registered with the Reserve Bank. As per the recommendations made by the Working Group, Credit Information Bureau (India) Ltd., (CIBIL) was set up in January 2001. CIBIL was promoted by the State Bank of India, Housing Development Finance Corporation Limited , Dun & Bradstreet Information Services India Private Limited and TransUnion International Inc. The shareholding pattern was as follows: SBI 40% HDFC 40% Dun & Bradstreet 10% TransUnion 10% TransUnion and Dun & Bradstreet are the technical and equity partners of CIBIL. TransUnion is one of the largest consumer credit bureaus in the world, and is recognized globally for its skills in advanced analytics and decisioning services. Dun & Bradstreet is world’s leading source of commercial information and insights on businesses. In 2004, SBI and HDFC divested a part of their stake in CIBIL to other shareholders comprising of leading banks and financial institutions in the country. •Business: CIBIL provides comprehensive credit information on consumer and commercial borrowers to credit grantors in India. CIBIL’s advanced analytic and risk management tools help credit grantors mitigate risk and ensure superior portfolio performance. CIBIL has two divisions- Consumer Bureau and Commercial Bureau. o Consumer Bureau was launched in 2004 with 4 million records o Commercial Bureau was launched in 2006 with 0.7 million records o CIBIL has grown phenomenally in the last five years, and houses credit histories on over 134 million trades across individuals and businesses Members: CIBIL’s 169 strong member base that includes all leading banks, financial institutions, non-banking financial companies and housing finance companies. Security Standards: CIBIL is ISO 27001:2005 certified- the most recognized security standard in the world. CIBIL is one of the 1000 companies in the world, which have achieved ISO 27001 certification, and one of the first few in India. Headquarter: Mumbai Managing Director: Mr. Arun Thukral Technical Partners: o TransUnion International- a leading global credit bureau with presence in over 30 countries o Dun & Bradstreet- a leading global provider of credit information and insights on businesses CIBIL’s Shareholders The promoters SBI and HDFC divested a part of their stake to other shareholders and the revised shareholding stands as follows: GE Strategic Investments India 2.5% State Bank of India 10% Bank of Baroda 5% TransUnion International Inc. 10% Dun & Bradstreet Information Services India Pvt Ltd.10% Bank of India 5.0% The Hongkong and Shanghai Banking Corporation Ltd 5% Indian Overseas Bank 5% Sundaram Finance 2.5% Housing Development Finance Corporation Ltd. 10% Punjab National Bank 5.0% Union Bank 5.0% Citicorp Finance (India) Ltd 5% ICICI Bank Ltd 10% Central Bank Ltd 5% Standard Chartered Bank 5% Total 100.0% CIBIL aides in improving credit environment in India ? god knows !!!

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vijayrlodha@yahoo.com

DANGEROUS WORDS IN BUSINESS……….

VIJAY LODHA

MCOM,LLB,MBA(FIN.)LONDON

At least we all recognize it when we hear it.

The really nasty language in business consists of normal words with abnormal meanings. Here are 12 words that should get any alert manager’s bullish*t detector working overtime.

Just

This is used to make a huge request or error seem trivial, as in, “Could you just do this (500-page) document by Monday?” -- a request best made late on a Friday afternoon.

But

Remember, whatever is said before but is b*****ks, as in, “That was a great presentation, but...” or, “I would like to help, but...”.

From

From is much loved by advertisers, as in “Fly to Rome from £10″ -- excluding £100 of taxes and other “optional” extras for a flight leaving at 4 AM and going to an airport about 100kn away from Rome, and only if you book the ticket one year in advance.

Might (and any other conditional verb)

Might is used to achieve two thing. First, it sets up a negotiating position, as in, “I might be able to do that if...” Second, it lays the groundwork for excusing failure later on: “I would have done it, if only...”

Only

Closely related to just, this is an attempt to make a big request or problem seem small. “It was only a small error.... We only dropped one nuclear bomb over London...”.

Important (and urgent)

This is used to puff up any presentation: “This important new product/initiative...”. Important to whom? And why? Maybe it is important to the speaker, but why is it important to me?

Strategic

Important, with bells on. See Strategic Human Capital Division, formerly known as the Personnel Department. It's alternatively used to justify something that has no financial justification at all: “This strategic IT investment (which costs £100 million and has no identifiable payback) is essential to the survival of the business.”

Rightsize, downsize, best shore, offshore, outsource, optimise, redeploy, downshift, re-engineer

How many ways are there to avoid saying straight up: "We are going to lay off staff"?

Thank you

Normally, thank you is good -- except when used by automated voices at call centres saying, “Thank you for calling; we value your call... (and we have so much contempt for our customers that we can't be bothered to answer your call promptly, so we will put you on hold until you give up and try to use our impenetrable and useless online help instead).”

Interesting

Fear this word. When your lawyer uses it, you are doomed. When your doctor uses it, check that your will is up to date. The recession is certainly interesting. A slightly less interesting time would be preferable.

Opportunity

Because the word problem has been banned in business-speak, all problems have become opportunities. This means many opportunities are problems. There is a limit to how many opportunities I can solve. Interesting and strategic opportunities really scare me.

Investment

Investment was first hijacked by the British government to justify wild and uncontrolled public sector spending. Spending is bad, but investment is good, so it simply reclassified all its spending as investment in the health, education, and future of the country. The businesses that followed the government’s lead by going on a spending/investment splurge are now going bust -- unlike the government, they can't print money or raise taxes.

what is CIBIL

What is CIBIL (Credit Bureau) and why is it so important today?
Most customers in India, who have Credit Cards and Personal Loans are unaware of the existence of CIBIL (Credit Information Bureau (India) Ltd.) which will definitely play a very important role in their financial planning in future.
Take for example case of Mr.Tomar who dropped his Credit Card Cheque on the Payment Due Date in the Skypak Dropbox. However, for some reason the payment got updated against his Credit Card a day late and he got levied a hefty late Payment Fee of Rs.300 in addition to service tax. Not someone to be taken for a ride he called the bank and registered a complaint for reversal.
Most Credit Card Issuers get several such reversals every month amounting to Crores of rupees. Based on some internal thumb rules, they reverse out some charges and decline other reversals. (I would like to highlight the policy adopted by HDFC and Deutsche Bank where they give the customer the benefit of doubt and confirm the reversal on the call itself – the first complaint on reversals is always resolved in the customers favour) Very often it is very difficult for the bank to judge if the customer is telling the truth or there has been some inefficiency at the cheque pickup agency. Mr.Tomars request was declined and he did not get the reversal. His next recourse was to write to the Head Service department in the bank and after 30 days write to the Banking Ombudsman. I completely agree with him.
However what Mr.Tomar does not realize is that in the intervening period his other statement has already got generated and as his complaint has not got resolved he has not paid the Rs.300 late payment Charge he has been levied. As a result in the following month he gets reported to CIBIL as a defaulter who has not paid his Credit Card Minimum Amount Due. Two more statements get generated and now the amount with Interest and service tax has inflated to Rs.600. He has been reported to CIBIL thrice for not paying his Minimum Due – the impact of which is as follows.
Next time Mr. Tomar applies for a Credit Card or a Personal Loan which he desperately requires, the changes of it getting declined are extremely high.
Why does this happen?
1. Every bank before giving you a Credit Card or Loan will check your CIBIL Record
2. The CBIL Record gives the performance of the current Cards and Loans that you hold
3. The following can ruin your CBIL record completely
a. Not paying your EMI / Credit card Minimum Due every month
b. Not paying the dues for a longer period of time
4. Every time you do not Pay your Credit Card or Personal Loan outstanding the CIBIL score dips further and the amount of outstanding and the number of days outstanding is visible to other banks as well
In the current scenario banks will think a million times before giving credit to a customer who has a bad record on CIBIL. If you have a bad record on 2 or more relationships or have not paid your Credit Card Outstanding for 6 months (write-off case) then please forget about it. This will definitely impact you as more and more banks start using CIBIL, which eventually may be used for Pre Employment checks, Utility Payment checks as well. The day when the interest rate given to you depends on your CIBIL score is also not very far away.
Please keep the following in mind!
1. Whatever happens, try to be regular with your payments
2. If you have a dispute on the Credit Cards, you can take up the issue, but please continue to pay your Minimum Amount Due every month. You can ask for the subsequent reversal later.
3. Head Service Departments as well Banking Ombudsman are useful authorities and my experience with them has been great, they do take fair decisions – so pursue your case with them while you continue to make the Minimum Payments to keep your Records from going to CIBIL
4. It is not worthwhile ruining your CIBIL record for a few hundred rupees of Late Payment Fee. Do realize that the bank does not care about the consequences of passing your records to CIBIL – it is only a file upload for them. You should definitely fight your case – but do not hurt yourself.
I think my details have already been reported in CIBIL. What do I do?
You can be reported to CIBIL because of 3 reasons
1. You have not paid your dues – You definitely need to be reported. Once you pay your dues over a period of 24 months your score will improve provided you start making regular payments again.
2. Erroneous updation by bank – Due to an error at the banks end due to inefficiencies in their Cheque Pickup agencies etc. they may not receive the payments in time and they incorrectly report your details to CIBIL, then they initiate the process to delete the name from CIBIL or sometimes the customer finds out when the application gets declined and needs to rush bank to the bank to get the record rectified
3. If you are currently in a dispute with the bank (especially payment not received etc) – I would suggest you settle it quickly and as a pre condition as for settlement, ask the bank to delete the reporting they have done to CIBIL.
Remember that your CIBIL score will improve over time once you start making regular payments. So do not worry, if your record is bad and CIBIL score is low, just continue making your Loan and Credit Card payments on time and it will pickup.
Personally, the biggest problem I have with the CIBIL system is that Customers cannot view this data and point out any incorrect reporting. Due to deficiencies and inefficiencies in bank there are several incorrect uploads on CIBIL and these uploads affect the customer’s Credit Record in a big way. There is no way the customers can get to know of these goof ups and rectify the same. They will get a rude shock one day when they go to seek Credit. This is a broader consumer battle that we will need to fight.