If your CIBIL score is zero and the loan is rejecting again and again, then you do not have to worry now. The Government of India and RBI have now issued clear instructions for banks and other lenders that the loan cannot be rejected only on the basis of low or zero CIBIL score. Hon’ble Minister of State for Finance Pankaj Chaudhary informed during the monsoon session that RBI has not made any minimum credit score compulsory for loans. However, before giving a loan, the lenders will definitely investigate your financial situation – as if you have taken a loan or not, whether or not has been repaid on time, no loan has been settled or forgiven. Apart from this, according to RBI rules, every person should get free credit report once a year. And no credit bureau can take more than ₹ 100. Now taking a loan and understanding your credit health was even easier!
Now Zero Cibil Score will also get a loan! Know the new rules and benefits of RBI. Paisa Live | Now you can get loan even with zero cibil score! Know the new rules and benefits of rbi
