Credit History seems to be important!

This is the first time, I am hearing credit history concepts in India. Looks like there is a serious verification process in India, before giving loans to anybody.

I have heard the same in USA, and in other countries. However, my thought is - the process might not be perfect enough in India, because there is no social security number! Or probably, in India - they might use a different unique number for this verification process.

Please read what is the importance of credit history in India - HERE...