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A wedding in Maharashtra’s Murtizapur took a surprising turn when the bride’s family called it off—not due to traditional concerns like compatibility, but over the groom’s financial health, as revealed by his CIBIL score.
Unexpected Request Leads to a Shocking Discovery
Both families had gathered to finalize the wedding details when the bride’s uncle made an unusual request: he wanted to check the groom’s CIBIL score. After reviewing his credit report, the uncle found multiple loans from various banks, along with a poor credit rating. Alarm bells rang, raising serious concerns about the groom’s financial stability.
Why a Low CIBIL Score Matters for Marriage
A CIBIL score—ranging from 300 to 900—provides a snapshot of an individual’s creditworthiness, factoring in their loan repayment history, credit card usage, and borrowing behavior. A score below 750 is seen as a red flag. For this groom, his poor CIBIL score indicated irregular payments, loan defaults, and possible financial mismanagement.
For the bride’s family, this was a serious concern. They feared that a man already burdened with debt might struggle to provide the financial stability they hoped for in a marriage. With the groom’s financial history coming into question, the bride’s family decided to call off the wedding.
What is a CIBIL Score and Why Does it Matter?
The CIBIL score, issued by TransUnion CIBIL and regulated by the Reserve Bank of India (RBI), is an essential factor in financial decisions. Lenders use this score to assess an individual’s risk before approving loans or offering credit. A score above 750 typically makes loan approvals easier and comes with better interest rates. In contrast, a lower score can mean loan rejections or higher borrowing costs.
Factors that influence your CIBIL score include:
- Timely repayment of loans and credit cards
- A healthy mix of credit accounts
- Length of credit history
- Credit utilization ratio
How to Maintain a Good CIBIL Score
For anyone looking to improve or maintain their CIBIL score, experts suggest:
- Paying off EMIs and credit card bills on time
- Avoiding excessive borrowing and debt accumulation
- Limiting multiple loan inquiries
- Keeping credit card balances low
Financial Transparency in Modern Marriages
In today’s world, financial health plays an integral role in relationships, as shown by this unique situation. A CIBIL score may no longer just be a number, but a crucial factor in relationship decisions. While marriage is traditionally about love and compatibility, financial transparency is becoming just as important, particularly when it comes to ensuring long-term stability.
