Just why is it difficult for First Time Borrowers to obtain a loan?

In a 2014 report, RBI has made guidelines of not to ever reject loans to brand brand brand new or first-time borrowers. Nonetheless, numerous banking institutions and NBFCs continue to be not comfortable financing to new borrowers. First-time borrowers face an unique challenge in getting that loan just like little if any credit score available, it might be hard for credit agencies to calculate a credit rating and lack of credit rating causes it to be burdensome for banking institutions to provide. Read More