CIBIL score is just one indicator.. there are other factors that play into making a decsion by the Bank.. so one of the other factors that might have played a role here in your rejection... you can ask the bank if you are keen to know about this.. but it will test your patience to know the real reason..
My KIWI application was also rejected.. I have a very good score and I am also a Marquee Credit card holder which is their top tier (YES bank's ) card.. still got rejection .. and I didn't care..