Unlocking Business Success: The Dual Role of CIBIL Rank for Entrepreneurs and CA Credit Repair Opportunities

SRV Media
New Delhi [India], August 10: Apoorvaa – Credit Repair Lawyer of India, recently sponsored and participated in the Anant National Conference organized by the Bhilwara Branch of CIRC of ICAI. The platform saw thought-provoking discussions on various topics indirectly associated with the Indian economy and MSMEs as CA. Aniket Talati – ICAI President, and Satish Marathe – RBI Director, both expressed their aspirations to benefit the MSMEs and society. On the inaugural ceremony speech of Anant National Conference at Bhilwara, CA. Anitket Talati – ICAI President focused on new developments for CA Fraternity and expanding the horizons of their practices.
During the event, CA. Aniket Talati – ICAI President launched a book titled “The Indian Credit Reporting System” and Satish Marathe – RBI Director launched a book titled “Improove Your Credit Health”, both authored by Advocate Apurva Bhagat.
Furthermore, Satish Marathe – RBI Director, has added that once your Credit Score and CIBIL Rank are affected, you may not be eligible to access credit. He appreciatively acknowledged Apoorvaa – Credit Repair Lawyer, for helping people and MSMEs to be credit healthy and contributing to the economy.
2023 is a breakthrough year for Apoorvaa – Credit Repair Lawyer of India as they have extended their horizon by associating with CA Fraternity and started Credit Awareness Seminar with ICAI branches. These seminars will add value to them on how credit bureaus work and the extensive impact they can have on individuals and businesses in India, considering CAs are directly associated with MSMEs.
CIBIL Rank plays a vital role for MSMEs because as a business owner, the constant goal is to expand the business, and financial resources play a crucial role in that expansion. Whether seeking government loans or bank loans, the key factor is the CIBIL Rank, a vital indicator of creditworthiness. The Company Credit Report (CCR) holds essential information such as past loans, credit obligations, credit utilization ratio, and credit history inquiries.

The CIBIL Rank is a single number derived from the CCR, ranging from 1 to 10, with 1 being the best rank achievable. Regardless of the business type (proprietorship, partnership, Pvt Ltd, or LLP), checking the company credit report at least once a year is essential, whether in need of a loan or not.
Several factors influence the Company Credit Report and CIBIL Rank, including the length of credit history, credit utilization ratio, repayment history, outstanding debts, and the company's size and age. The major parameters considered are past repayment behavior and credit utilization, both of which significantly impact the CIBIL Rank.
Delinquencies, such as old current balances, outstanding balances, wrong reported loans or overdraft statuses, duplicate entries, and closed accounts still shown as open, can negatively affect the CIBIL Rank to go between 7 to 10, making it challenging to secure loans. Correcting these issues requires strategic efforts but may take time, so it is best not to delay the process until the need for a loan arises.
Although the CIBIL Rank is now available for companies with current credit exposure of up to Rs 50 crores, its non-availability is not detrimental. Nevertheless, maintaining a strong CIBIL Rank and company credit report is essential for faster and hassle-free access to loans. A favorable rank inspires confidence in banks and lenders, leading to quicker and more affordable credit options. Additionally, a good CIBIL Rank improves chances of negotiating favorable interest rates, benefiting business owners in various ways.
Advocate Apurva Bhagat, Founder and President Apoorvaa – Credit Repair Lawyer of India, firmly says that CIBIL Rank and Commercial Credit Report is a 360° business analysis of any company to understand its creditworthiness. With his decade of experience in finance, taxation, retail loan, and project finance, he emphasizes understanding commercial credit reports and CIBIL Rank for MSMEs.
Apoorvaa – Credit Repair Lawyer of India, a novel service provider in credit rectification, focuses on the financial health of MSMEs by tackling their CIBIL Rank issues. Currently Apoorvaa – Credit Repair Lawyer of India is assisting Individuals and MSMEs in becoming credit-savvy and subsequently credit healthy and wealthy.

On the inaugural ceremony speech of Anant National Conference at Bhilwara, CA. Anitket Talati – ICAI President focused on new developments for CA Fraternity and expanding the horizons of their practices.
 “The 
 is a new practice area for CA Fraternity, serving the purpose of CA. Aniket Talati to expand the horizon of practicing as CAs are directly associated with MSMEs. They will help MSMEs to boost their financial horizon, and assist banks in reducing their NPA. Additionally, the credit repair business helps them to support social-economy causes.” said Advocate Apurva Bhagat Founder and President Apoorvaa – Credit Repair Lawyer of India, at Anant National Conference at Bhilwara.
“Apoorvaa – Credit Repair Lawyer of India plays a significant role in contributing to the economy as they works towards strengthening MSMEs through their rectification”, said Satish Marathe – RBI Director, while discussing the topic of MSMEs, Future of Indian Economy at Bhilwara.
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