DiscoverDaybreakAI can make loan approvals a piece of cake. So why is the RBI against it?
AI can make loan approvals a piece of cake. So why is the RBI against it?

AI can make loan approvals a piece of cake. So why is the RBI against it?

Update: 2025-01-14
Share

Description

For decades, the whole process of getting a loan approved was infamously painful and long winded. But now things have changed. Getting a loan is a whole lot faster than before. And that’s because of the disruptor to end all disruptors — artificial intelligence. 

A bunch of companies have entered the scene with specalised AI tools to speed up different aspects of the loan-approval process.  In fact,  Indian AI startups have managed to raise nearly 750 million USD in 2024 and the banking and financial sector was one of the top drivers of this growth. 

Now at first glance, it seems like a win-win for both the borrower and the bank. But there’s a catch. This surge has come with a lot of scrutiny from the RBI. 

Tune in. 


Tell us what you thought of this episode. You can text us your feedback on WhatsApp at +918971108379

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.


Comments 
loading
In Channel
loading
00:00
00:00
1.0x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Sleep Timer

Off

End of Episode

5 Minutes

10 Minutes

15 Minutes

30 Minutes

45 Minutes

60 Minutes

120 Minutes

AI can make loan approvals a piece of cake. So why is the RBI against it?

AI can make loan approvals a piece of cake. So why is the RBI against it?

The Ken

We and our partners use cookies to personalize your experience, to show you ads based on your interests, and for measurement and analytics purposes. By using our website and our services, you agree to our use of cookies as described in our Cookie Policy.