Informative

Lenders need to be careful while adopting AI-based models for loan sanctioning: RBI Governor

Update / Judgement Date

26 Aug 2024

Source

Indian Express

Author

Team — WCP Legal Desk

Reading Time

1 min read

BankingFinancial Planning

RBI Governor Shaktikanta Das highlighted the potential of artificial intelligence (AI) in streamlining loan sanctioning processes. AI's integration into financial services could enhance efficiency, accuracy, and decision-making, contributing to more effective credit management and customer service in the banking sector.

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Lenders need to be careful while adopting AI-based models for loan sanctioning: RBI Governor

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