Dynamite News Maharashtra: Wedding called off due to groom's low CIBIL score
The talks for the wedding was finalised and the preparations for the marriage were also started by both the families. But the bride's maternal uncle decided to check the boy's CIBIL score. Read further on Dynamite News:
Mumbai: In a first-of-its kind case, a wedding in Maharashtra’s Murtizapur was abruptly called off by a bride's family due to groom's low Credit Information Bureau (India) Limited (CIBIL) score.
The marriage talks were in the final stages and both the families had given their consent for the wedding. But when the bride's family checked the boy's CIBIL score, it was found that his financial condition was not good, following which the girl's family decided to call off the marriage.
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CIBIL Score Was Poor
According to the Dynamite News correspondent, all the preparations for the marriage had been completed by both the families, but the bride's maternal uncle decided to check the boy's CIBIL score before the marriage. According to the information, the boy's credit score was poor, and he had taken loans from many banks.
Groom Was in Debt
Subsequently, the bride's family decided to call off the marriage, believing that if the boy was already in debt before marriage, he would be unable to provide financial security for his wife.
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CIBIL Score
It is worth mentioning that the CIBIL score is used to assess an individual's financial standing. This score ranges from 300 to 900 and is used by banks and financial institutions to decide whether or not to grant a loan to a person. If an individual's credit score is below 685, most banks refuse to provide a loan. Even if a loan is granted, it usually comes with a higher interest rate.
The CIBIL score reflects how many times a person has taken out loans and whether they repay their installments on time. If someone's score is above 750, it becomes easier for them to secure a loan, and they are considered financially disciplined. However, nowadays, in matters of marriage, not just family background and personal traits, but financial status has also become important. People are now checking CIBIL scores before finalizing marriage arrangements to avoid potential financial issues in the future.