Yes that’s the reason . SCB and HSBC don’t like too many enquiries on Cibil within less interval , also there are many PSU also which follows the same rule . When you apply online, the application gets straightway rejected and there is a Cibil enquiry wasted.
Don’t apply SCB or HSBC card with more than 4 enquiries in last 3 months , even if you apply , do it offline through branch , they might help you .
My SCB application was getting rejected every time since last 1 year , this January I visited their branch and applied and Ultimate was approved , got to know about this from an employee there