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First-time borrowers without a CIBIL score should not face outright rejection of loan applications, the government clarified in Parliament.

Minister of State for Finance Pankaj Chaudhary told the Lok Sabha during the monsoon session that the Reserve Bank of India (RBI) has not prescribed any minimum credit score requirement for approving loans. He said RBI has advised banks and credit institutions not to turn away applicants simply because they lack a credit history.