Printing of currency is an essential activity for any country, and India is no exception. The Reserve Bank of India (RBI) is responsible for the printing of currency notes in India. In this blog, we will take a closer look at the process of printing currency notes in India and the various factors that influence the process. Printing currency in India is the responsibility of the Reserve Bank of India (RBI), which is the central bank of the country. The RBI was established in 1935 and is headquartered in Mumbai. The RBI is responsible for determining the amount of currency notes that need to be printed in India. The amount of currency notes that are printed is determined based on various factors, such as the demand for currency in circulation, the need for new notes, and the replacement of old and damaged notes. Once the amount of currency notes to be printed is determined, the RBI places an order with the two government-owned printing presses in Nashik and Dewas. History of currency pr...
In this blog we able to know about the credit score, what exactly the history behind it. Also, Credit score in India and how it calculate? The use of credit scores as a measure of creditworthiness dates back to the early 20th century. At that time, lenders would often rely on personal relationships with borrowers and their knowledge of the borrower's character to determine whether to grant a loan. However, as lending became more widespread and complex, lenders began to look for more objective and standardized ways to evaluate credit risk. Source: fico In the 1950s, the Fair Isaac Corporation (now known as FICO) introduced the first credit scoring system, which was used by several large lenders to evaluate credit applications. The system was based on a borrower's credit history, which included information such as their payment history, outstanding debts, and length of credit history. The FICO score became the dominant credit scoring model in the United States, and is still wide...