Page 49 - Banking Finance August 2020

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accounts; SMA - Special mention accounts; SS - Sub- To improve your score, remember to do
standard; DBT - Doubtful; LSS - Loss assets 1. peruse your recent credit report
X In case of credit cards, due amount has to be paid on 2. Never postpone repayment of installments / EMI
or before a particular demand date. In such cases payments
"Days past due" (DPD) concept will be displayed. (e.g..
3. Maintain diverse credit portfolio
If the bill has to be settled on or before 5th of every
month, and if bill is settled before 05th, then DPD will 4. Handle your debts smartly
be shown as "000" and If bill is settled say on 10th , To improve your score, remember not to do
then DPD will be "005")
1. Do not continue to keep un-used credit cards
Extra Due diligence should be exercised if the score is -1, 2. Donot use the sanctioned limit to the brim
because CIBIL does not have information from any financial 3. Donot request the lender to reschedule / rephase your
institution with respect to the particular person existing debt unless it is a dire necessity

Anyone can check their credit score by following the below If you notice any error in your CIBIL report, take-up the
mentioned simple steps. matter with the CIBIL through the website.
Step -1 Visit the official website of CIBIL https:// "Good CIBIL score, better chance of getting loans / credit
www.cibil.com/freecibilscore
cards"
Step - 2 Sign-up with submitting your identity details.
Step - 3 Credit score will be sent to you via e-mail address References:
you have provided while sign-up 1. cibil.com, Wikipedia, Cleartax.in

Rental housing scheme must avoid predictable pitfalls

In July 2020, the Government of India launched the Affordable Rental Housing Complex (ARHC) Scheme to provide
access to dignified affordable rental housing to urban migrants, including workers in industry, health institutions, street
vendors, students, etc. under two separate models. One, 1.08 lakh vacant houses built under JNNURM and Rajiv
AwasYojana will be repurposed as rental houses.

Two, public and private entities will be incentivised to develop rental housing on their vacant land. The scheme will
target urban migrants in the Economically Weaker Sections/Low Income Groups. The Government of Tamil Nadu, as
also some private industry players have already shown their inclination to adopt the scheme. Although welcomed by
many as a timely measure, the history of housing schemes calls for cautious optimism.

A day before the national lockdown began, the Government of India answered in the LokSabha that there are an
estimated 10 crore inter-state migrant workers. About 50 lakh to 90 lakh workers migrate annually, typically from
less affluent states to richer ones for better employment opportunities. Over half of all out-migration, around five
crore workers, is from the states of Uttar Pradesh and Bihar. Jharkhand and Madhya Pradesh make the top four send-
ing states, whereas Delhi, Maharashtra, Tamil Nadu, Karnataka, etc. have the highest in-migration. In urban agglom-
erations with the highest population in the receiving states, i.e. in NCT of Delhi, Mumbai Metropolitan Region (MMR),
Chennai, Bengaluru, etc. migrants, including intra-state migrants, make up nearly half the population.

While Delhi with 70 lakh migrants, and Mumbai with 99 lakh migrants are home to most migrants in aggregate terms,
southern cities in contrast have seen a higher growth rate in migrant population in the past decade. Despite the
centrality of migrant workers in sustaining cities as growth engines, the question of where the migrants would live
has been a sore point. It is in these receiving states that the ARHC Scheme could find full import.

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