CIBIL Score New Rule: The number of people taking loans from banks and non-banking financial institutions is increasing day by day! Due to which now the need to change the way of measuring credit score is being felt! In this direction, initiative has been taken by RBI and Finance Services Department of Finance Ministry! Reserve Bank of India has implemented many new rules for civil score! The main objective of these new rules is to make the banking system better, so that customers can get quick and safe services!

Till now credit score was very important for taking loan from the bank! If your credit score is good then you did not have any problem in taking loan from the bank! On the other hand, if your civil score is low, then it was difficult to take loan from the bank! RBI has implemented CIBIL Score New Rules to overcome these problems of its customers! If you also want to take a loan in the coming time and your civil score is not good then this information is beneficial for you!

Taking loan on CIBIL Score New Rule became easy

According to the new rules implemented by RBI, if your CIBIL score is bad! Even then you are entitled to take a loan! After the new rules, now no bank can reject the loan application of the customers without giving a solid reason!

If the application has to be rejected for any reason, then the institution will have to give clear reasons to the customers through SMS email or phone call! Important improvements have also been made for credit card users! And all card holders will be able to see all the information related to their bank account online! Due to which as soon as any wrong information is found, it can be corrected immediately!

RBI gave rights to its customers

After the new rule of RBI, customers get many important rights! In these rights, many important information related to loan application is available! If the bank rejects your loan for any reason, then you have full right to know the reason!

Using your rights, you can ask the reason from the bank! This new rule is a ray of hope for millions of customers who are unable to pay their loan on time and are not even considered eligible to take a new loan! After these new rules, you can easily take a loan through the bank!