25
Aug
#CIBIL #CreditScore #Loans #RBI #FinanceMinistry #FirstTimeBorrowers #FinancialInclusion #Banking #NBFC #CreditAccess #DigitalIndia #MudraYojana #SVANidhi #JanDhan New Delhi: In a significant clarification for millions of aspiring borrowers, the government has confirmed that the Reserve Bank of India (RBI) has not made it mandatory for first-time loan applicants to have a minimum CIBIL score or any other credit score in order to secure credit from banks and financial institutions. The clarification came from Minister of State for Finance, Pankaj Chaudhary, during the ongoing Monsoon Session of Parliament, where he addressed questions regarding access to formal credit for new borrowers. Chaudhary stated that RBI…