No CIBIL score set for loan eligibility, banks can't deny loans to first-time borrowers: Govt

MoS for Finance Pankaj Chaudhary said no minimum CIBIL score has been set for deciding a borrower's eligibility for loans. He said banks take decisions on granting loans based on their own policies and guidelines, taking CIBIL scores as "one of the inputs". He also clarified that lenders shouldn't reject first-time borrowers' loan applications if they have no credit history.